Monday, 10 October 2016

Yellow metal little changed on overseas cues : 10 Oct 2016



Gold futures closed little changed in the domestic market on Friday as investors and speculators widened their positions in the precious metal tracking positive cues from overseas markets after the US September jobs report.

The September US non-farm payrolls came in at up 156,000, which was a slight miss to the downside from market expectations of a rise of 170,000, thus raised demand for the safe haven.

At the MCX, gold futures for December 2016 contract ended at Rs 29,592 per 10 grams, up by 0.06 per cent, after opening at Rs 29,600, against a previous close of Rs 29575. It touched the intra-day high of Rs 29860.

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