For Quick Alerts
For Daily Alerts

Gold Lower As Safe Haven Appeal Ebbs

By Religare

Gold futures fell during noon trade in the domestic market on Friday as gains in most Asian equities and a rally in oil prices eroded the safe haven appeal of the precious metal while traders weighed the hefty stimulus package unveiled by the European Central Bank (ECB) to prop up growth and inflation in the Euro area economy.

Check gold rates in your city

Gold Lower As Safe Haven Appeal Ebbs
The ECB cut its deposit rate by 10 basis points to -0.4 per cent while the benchmark rate was lowered to 0 from 0.05 per cent and monthly bond purchases were increased to 80 billion euro from 60 billion euro with corporate bonds now eligible.

At the MCX, Gold futures for April 2016 contract is trading at Rs 29,883 per 10 gram, down by 0.16 per cent after opening at Rs 29,850, against the previous closing price of Rs 29,931. It touched the intra-day low of Rs 29,759. (At 12:03 PM).

Read more about: gold
Company Search
Get Instant News Updates
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