Gold futures closed higher in the domestic market on Monday as investors sought safety in the precious metal, prompted by nervousness around the Brexit referendum, set for later this month, and a pair of high-profile central bank meetings later this week.
Investors all but ruled out a rate hike at the Fed’s June 14-15 meeting after U.S. employment data earlier this month showed the economy added just 38,000 jobs last month, the smallest increase since September 2010.
At the MCX, Gold futures for August 2016 contract closed at Rs 30,404, per 10 gram, up by 1.06 per cent after opening at Rs 30,094, against the previous closing price of Rs 30,084. It touched the intra-day high of Rs 30,474.
Investors all but ruled out a rate hike at the Fed’s June 14-15 meeting after U.S. employment data earlier this month showed the economy added just 38,000 jobs last month, the smallest increase since September 2010.
At the MCX, Gold futures for August 2016 contract closed at Rs 30,404, per 10 gram, up by 1.06 per cent after opening at Rs 30,094, against the previous closing price of Rs 30,084. It touched the intra-day high of Rs 30,474.
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