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Lead futures weGold rises due to Brexit jitters
18/01/2017 08:35
Gold futures closed higher in the domestic market on Tuesday as nervousness surrounding Britain’s push to exit from the European Union and U.S. President-elect Donald Trump’s inauguration this week fed haven demand for the precious metal.
Gold futures had gained about 1.9% last week, boosted by a retreat for the dollar and stock markets, as postelection enthusiasm for riskier assets stalled. At the MCX, gold futures for February 2017 contract ended at Rs 28742 per 10 grams, up by 0.75 per cent, after opening at Rs 28,580 against a previous close of Rs 28,529. It touched the intra-day high of Rs 28,776.re trading lower during morning trade in the domestic market on Friday as investors and speculators indulged in trimming their bets in industrial metal amid subdued physical demand for lead, from battery-makers, in the domestic spot market. Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for January 2017 contract is trading at Rs 137.90 per kg, down by 0.51 per cent, after opening at Rs 138.15, against a previous close of Rs 138.60. It touched the intra-day low of Rs 137.80 (at 11:08 hours).
