MCX Gold Tips: Gold futures ended mildly lower in the domestic market on Friday as the People's Bank of China unexpectedly introduced fresh stimulus measures on Friday, pointing the sixth time the central bank has lowered interest rates since November. The PBOC slashed its one-year lending rate by a half of a percentage point, in its latest attempt to bolster its flagging economy by easing monetary policy. In addition, the PBOC also lowered its Reserve Requirement Ratio (RRR) or the quantity of cash commercial banks must set aside in reserves, by 0.5 per cent. Meanwhile, mixed US data raised uncertainty over whether the US Fed Reserve will hike interest rates this year as jobless claims edged up last week, a best index declined in September but existing home sales rose. Further, a stronger dollar reduced the appeal of billion as an alternative asset. Stronger greenback makes the bullion expensive for those holding other currencies, thus decreasing demand. At the MCX, Gold futures for December 2015 contract closed at Rs 26,809 per 10 gram, down by 0.21% after opening at Rs 26,874, against the last closing price of Rs 26,865. It touched the intra-day low of Rs 26,726.
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