Euro, Greece Worries Boost Gold Sentiment

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Gold considered as a safe haven investment surged on Tuesday on the back of weak equities market all over the world.

    Investors turned risk averse once again by selling equities and buying gold after fears that Greece would exit the euro zone, falling euro against the dollar and sharp drop in crude oil prices.

    Euro, Greece Worries Boost Gold Sentiment

    International spot gold was seen trading at $1,208 an ounce.

    Gold is considered as safe haven metal in the time of turmoil or political uncertainties, which is why it rallied today However, any strength in the dollar could weigh on gold sentiment.

    A strong dollar makes the yellow metal more expensive for holders of other currencies.

    Tracking overseas trend, gold futures on India rose. Gold futures for February 2015 contract, at MCX, was trading at Rs. 27,137 per 10 grams, up by 0.37 per cent. It touched an intra-day high of Rs 27,215.

    Goodreturns.in

    Read more about: gold equities
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    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