MCX Bullions Tips: Gold futures ended lower in the domestic market Wednesday as investors and speculators cut risky bets in the yellow metal amidst care ahead of a flurry of US data including August private sector payrolls, July factory orders and Fed Beige Book observe which may offer latest cues over the health of the world’s biggest economy, hence shaping the timing of a maiden US interest rate lift-off since 2006. A stronger dollar cut the demand for Gold as an alternative asset. vigorous greenback makes Gold more expensive for those holding other currencies, thus dimming demand. Boston Federal Reserve President Eric Greengrocer said that the subdued pace of inflation and weak global growth have justified the case for slow pace of rate tightening anyway of when the initial rate hike takes place. At the MCX, Gold futures for October 2015 contract closed at Rs 26,629 per 10 gram, down by 0.76 per cent after opening at Rs 26,800, against the last end price of Rs 26,833. It touched the intraday low of Rs 26,609.
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