Gold futures rose during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal on weakness in greenback, but gains were limited on expectations of more rate hikes by the US Federal Reserve next year. 

The US Fed raised US interest rates earlier in December for the first time in a year and signalled 3 more increases next year.For more detail visit our website  www.ripplesadvisory.com or call at: 9303093093.

At the MCX, gold futures for February 2017 contract is trading at Rs 27,430 per 10 grams, up by 0.48%, after opening at Rs 27,350, against a previous close of Rs 27,300. It touched the intra-day high of Rs 27,498.

                 Trading Ideas

• Gold trading range for the day is 27135-27429.

• Gold prices crawled in the range after prices open up as supported by a softer dollar and short-covering.

• Gold hit a 10-month low on Dec. 15 as solid U.S. economic data prompted the Fed to raise U.S. interest rates for the first time in a year.

• Reflecting bearish investor sentiment, assets in the SPDR Gold Trust fell 0.14 percent to 823.36 tonnes on Tuesday.