On Saturday, gold futures closed with positive note in the domestic bullion market, erasing two days decline, on the back of firm demand in the spot market ahead of marriage season in India. Weakening of US dollar also kept gold prices in positive zone Jan.22, as euro strengthened to an eight week high against the dollar on the back of higher earnings reported by general Electric co., more than expected figure, and unexpected increase in German Business confidence. Generally, yellow metals move opposite to US currency.
At Multi Commodity Exchange (MCX), gold future for February contract closed on Saturday at Rs. 20,069.00 per 10 grams, up by 0.14%, after opening at Rs. 20,032.00 against the previous close price of Rs. 20,040.00. It touched the intra-day high of Rs. 20,078.00 with a business volume of 2,387 lots. While, gold future for April contract closed at Rs. 20,339.00, up by 0.16%, after opening at Rs. 20,321.00 against the previous close price of Rs. 20,305.00. It touched the intra-day high of Rs. 20,349.00.
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