MCX GOLD TIPS | Gold prices closed flat in the domestic market on Tuesday in spite of a broadly stronger dollar, as relatively positive Consumer Price Inflation data paved the way for the Fed Reserve to likely approve an interest rate hike when it releases its Dec. monetary policy statement on Wed. The US Department of Labor reported that its CPI Index remained unchanged in Nov. from the last month, in line with analysts' expectations. On a yearly basis, the CPI index edged up by 0.5 per cent over the last 12 months, considerably above gains of 0.2 per cent in October. At the MCX, Gold futures for February 2016 contract closed at Rs 25,266 per 10 gram, down by 0.32 per cent after opening at Rs 25,333, against the last closing price of Rs 25,347. It touched the intra-day low of Rs 24,190.
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