Gold Futures were Trading little changed in the Domestic Market

GOLD

Gold futures were trading little changed in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the precious metal amid speculation that the US Federal Reserve is on track to raise interest rates for the first time since 2006 next year, dimming the appeal of the bullion as a store of value. Fewer American filed unemployment benefit claims last week, a leading indicator rose more than forecast while a regional manufacturing gauge surged this month and existing home sales climbed in October, adding to US economic optimism, reducing case for ultra-easy money policy by the Fed. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,484 per 10 grams, up by 0.08 per cent, after opening at Rs. 26,483, against the previous closing price of Rs 26,463. It touched an intra-day high of Rs 26,539. (At 11:30 AM).