Gold futures were trading lower during the evening trading session in the domestic market on Tuesday as the dollar rose, but worries about a potential British exit from the European Union and expectations the Federal Reserve won't raise rates at its June meeting kept it close to four-week highs.
The Federal Reserve is expected to keep interest rates on hold for at least another month when it starts a two-day meeting later in the day.
The Federal Reserve is expected to keep interest rates on hold for at least another month when it starts a two-day meeting later in the day.
Gold is sensitive to interest rates changes, with increases mostly signaling a rise in the opportunity cost of holding the non-interest yielding metal.
At the MCX, Gold futures for August 2016 contract is trading at Rs 30,374 per kg, down by 0.08 per cent, after opening at Rs 30,350, against a previous close of Rs 30,399.
At the MCX, Gold futures for August 2016 contract is trading at Rs 30,374 per kg, down by 0.08 per cent, after opening at Rs 30,350, against a previous close of Rs 30,399.
It touched the intra-day low of Rs 30,270 (At 04:23 PM).
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Yes gold is very sensitive with respect to the interest rate. Its good if you keep a good track record of its price fluctuation. For good earnings use experts advisable stock tips.
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