MCX Gold Trading News

Gold futures were trading marginally higher in the domestic market on Tuesday tracking a positive trend in the global markets. Gold futures rebounded in the oversea market on Tuesday as investors bet that the recent monetary policy easing undertaken by central banks from the US, Europe and Asia may boost the demand for the bullion, given that gold is a hedge against the inflationary risk of monetary stimulus.

China’s central bank on Monday injected 290 billion yuan, a record amount into the nation’s financial system through reverse- repurchase agreements, as officials sought to end a cash crunch in Asia’s largest economy. Investors are betting that a boost in liquidity may lead to a depreciation of currencies and may stoke inflation, brightening the demand outlook for gold, a hedge against inflation. 

Gold futures, at the MCX, for the October 2012 contract, are trading at Rs 31,454 per 10 gram, up by 0.07 per cent, after opening at Rs 31,478, against a previous close of Rs 31433. It touched an intra-day high of Rs 31,518. (At 15:05 PM today). Via

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