On Friday Gold futures were trading higher in the domestic market tracking a firm trend in the overseas market as the recent losses in the bullion spurred physical demand for the precious metal. Overall point of view in the bullion may continue to remain bearish as an boosting US economic outlook, expectations for US monetary tightening in 2015, the low-laying level of holdings in gold-backed exchange traded products in more than six years, a stronger dollar and plunging oil prices which threaten to curb gold’s appeal as a hedge against boost, weigh on demand. MCX, Gold futures for February 2015 contract is trading at Rs 26,809 per 10 gram, up by 0.85 percent after opening at Rs 26,733, against the last ending price of Rs 26,584. It touched the intraday big of Rs 26,847 till the ending. (At 10:11 AM).
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