Gold futures closed higher in the domestic market on Tuesday as investors awaited hints from the U.S. Federal Reserve on the timing of the next interest-rate increase.
The Fed will conclude a two-day policy meeting on Wednesday. Although, no monetary-policy moves are expected, its statement will be watched closely for clues to future action.
At the MCX, Gold futures for August 2016 contract closed at Rs 30910, per 10 gram, up by 0.01 per cent after opening at Rs 30,873, against the previous closing price of Rs 30,907. It touched the intra-day high of Rs 30,950.
The Fed will conclude a two-day policy meeting on Wednesday. Although, no monetary-policy moves are expected, its statement will be watched closely for clues to future action.
At the MCX, Gold futures for August 2016 contract closed at Rs 30910, per 10 gram, up by 0.01 per cent after opening at Rs 30,873, against the previous closing price of Rs 30,907. It touched the intra-day high of Rs 30,950.
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