For Quick Alerts
For Daily Alerts

    International Gold on a High on Swiss Move


    International gold surged for second consecutive day on reports that the Swiss National Bank lowered interest rates further into negative territory and also sliding equities supported the sentiment.

    International spot gold was seen trading at $1,258 an ounce.

    International Gold on a High on Swiss Move

    Gold is set to post its best week in ten months, as volatility in the market also led investors to take shelter in gold.

    European markets were rattled yesterday by the move taken by the Swiss National Bank, pushing the currency higher against the euro. After the news, stocks in Swizterland plunged on fears of the Swiss economy.

    In India, gold in previous session rose more than three months at the domestic bullion market as stockists and speculators went on a buying spree after a global commodity rally.

    Speculators and traders booked profit after the short rally. At the Multi Commodity Exchange, gold futures for delivery in February was trading lower by Rs 58 or 0.26 per cent, to Rs 27,434 per 10 grams.

    Read more about: gold futures
    Story first published: Friday, January 16, 2015, 14:52 [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

    Notification Settings X
    Time Settings
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    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