Gold futures maintained rally yesterday on optimism over the G-20 meet. Factors like the appreciating Euro, cancellation of Greek bailout referendum overshadowed the cut in ECB’s rate and raised the risk appetite of investors which contributed gold to march higher by 2.05% at settlement. The same gas been observed at MCX also.
The US and European equities settled at a positive tune on the optimism of Greek bailout acceptance and the cut in ECB interest rate
The dollar index held a two day drop against the Euro on optimism of the Greece bailout
The ECB cut interest rate from 1.50% to 1.25% as referred by the OECD to restore the growth outlook of European countries, boosted risk appetite of investors
Holdings in the SPDR Gold Trust, the world's largest goldbacked exchange-traded remained unchanged at 1243.55 tons as on 3rd Nov
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget
