Gold Ended Bearish in the Domestic Market on Monday.

Gold futures ended lower in the domestic market on Monday as investors and speculators exited positions in the precious metal as a resurgence in oil prices dented the appeal of the precious metal as a safe haven bet as risk appetite increased. 

Speculation rose that the European Central Bank (ECB) will unleash further monetary easing measures to prop up the Euro area economic recovery, when it meets this Thursday, a move which could boost gold, a hedge against the inflationary risk of monetary stimulus.  Click Here To Know More - Mcx Tips 

Meanwhile, traders weighed mixed US jobs data which showed a pickup in hiring in the month of February that was offset by a surprise dip in wages, raising doubts over the timing of the next US Federal Reserve interest rate hike after a maiden lift-off in almost a decade in December.

Gold may rebound today as hopes of delayed further Fed rate hikes bolstered the lure for the bullion as a store of value.

At the MCX, Gold futures for April 2016 contract closed at Rs 29,592 per 10 gram, down by 0.58 per cent after opening at Rs 29,850, against the previous closing price of Rs 29,766. It touched the intra-day low of Rs 29,544.