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GOLD MARKET NEWS
Gold hit a fresh three week high early Thursday, after jumping 1.5 percent overnight, helped by a weaker dollar and diminishing expectations of an interest rate hike by the U.S. Federal Reserve at its meeting next week.
Spot gold was nearly flat at $1,262.26 an ounce by 0054 GMT, having earlier hit $1,266.01, its best since May 18
Gold prices spurted by Rs 118 to Rs 29,964 per 10 gram in futures trade as speculators widened their bets taking positive cues from the global market.Content This No. 9827808090.
At Multi Commodity Exchange, gold for delivery in far-month October was trading Rs 118 or 0.40 % higher at Rs 29,964 per 10 gram in a business turnover of 12 lots. The metal for delivery in August also moved up by Rs 102 or 0.34 % to trade at Rs 29,731 per 10 gram in a turnover of 553 lots.
U.S. gold rose 0.2 percent to $1,265.20
* The dollar index inched 0.1 percent lower to 93.511, not far from a five-week low of 93.425 plumbed on Wednesday.
- See more at: http://investmentguruindia.com/Commodities/Gold-hits-three-week-high-on-fading-US-rate-hike-prospects#sthash.lJ1SxKgO.dpuf
* The dollar index inched 0.1 percent lower to 93.511, not far from a five-week low of 93.425 plumbed on Wednesday.
- See more at: http://investmentguruindia.com/Commodities/Gold-hits-three-week-high-on-fading-US-rate-hike-prospects#sthash.lJ1SxKgO.dpuf
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