International Gold Inches Up; Eyes Third Weekly Drop

Posted By:
Subscribe to GoodReturns

International gold inched up on Friday, however, heading for the third weekly decline. Strength in dollar weighed on the gold sentiment. International spot gold stood at $1,185 an ounce.

As per the report, the bullion in 2014 ended nearly 2 per cent lower, following a 28 per cent slip in the previous year.

International Gold Inches Up; Eyes Third Weekly Drop

Traders and analysts expect a year ahead to be tough for gold as US Fed is likely to hike interest rates in the middle of the year.

Gold futures fell marginally in the domestic market on Friday weighed by strong dollar sentiment. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Check gold rates here.

At 3.05 pm IST, on MCX, gold futures for February 2015 contract was trading at Rs 26,675 per 10 gram, down by 0.09 per cent after touched the intra-day low of Rs 26,624 during the trade.

GoodReturns.in

Read more about: gold mcx
Story first published: Friday, January 2, 2015, 15:07 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

Get Latest News alerts from Goodreturns

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more