Free MCX Tips: Gold prices fell by 0.34 per cent on Thursday
as China markets returned from holidays and investors stake positions
ahead of Fed minutes later in the day. Investors await the release of
the minutes from the Fed's September meeting on Thursday for further
hints on whether the US central bank could raise short-term interest
rates before the end of the year. Gold futures for December 2015
contract, at MCX, were trading at Rs. 26,465 per 10 grams, down by 0.34
per cent after opening at Rs. 26,501 against the previous closing price
of Rs. 26,555. It touched the intra-day low of Rs. 26,431 till the
trading. (At 11.55 AM today).
However, a weak dollar raised the appeal of the bullion as an
alternative asset. Weaker dollar makes the precious metal cheaper for
those holding other currencies, thus increasing demand.
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