MCX Gold Tips : Bullion futures were trading lower during late morning trade in the domestic market on Monday as traders stayed on the sidelines ahead of the New Year, and eying key United State economic releases later this week which may offer further cues over the health of the world’s Largest economy, determining the outlook for US interest rates in 2016. US consumer confidence for Dec, home prices for Oct, pending home sales for November and household spending for December, which are all due this week, may show a strengthening United State economic recovery, paving the way for further interest rate hikes by the US Fed Reserve next year, dimming the lure for Gold as a store of value. At the MCX, Gold futures for February 2016 agreement is trading at Rs 25,172 per 10 gram, down by 0.16 per cent after opening at Rs 25,193, against the last closing price of Rs 25,212. It touched the intra-day low of Rs 25,161 (At 11:24 AM).
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