Yellow Metal Shines On Safe-Haven Demand

Gold futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the precious metal on safe-haven demand amid political uncertainty in Syria following the US missile air strikes on Syria bases last week.

Further, the disappointing US jobs data dampened expectations that the US Federal Reserve will hike interest rates, too supported gold prices. 

At the MCX, gold futures for June 2017 contract is trading at Rs 28746 per 10 grams, up by 0.22 per cent, after opening at Rs 28682, against a previous close of Rs 28684. It touched the intra-day high of Rs 28750.

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Suhani Verma

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