Bullion Tips - Gold prices rose by 0.05 per cent on Tuesday with investors set for volatility ahead of the Federal Reserve's December meeting. Yesterday, the Federal Reserve Board of Governors scheduled a closed-door meeting, held under expedited procedures, to review the discount rates charged by its regional banks. Gold futures for December 2015 contract, at MCX, were trading at Rs. 25,178 per 10 grams, up by 0.05 per cent after opening at Rs. 25,193 against the previous closing price of Rs. 25,165. It touched the intra-day high of Rs. 25,211 till the trading.
Further, a weaker dollar Hikes the appeal of Gold as an different asset. Weaker greenback makes the bullion cheaper for those holding other currencies, thus increasing demand.
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