Market News Gold futures ended flat in the domestic market - TopicsExpress

Market News Gold futures ended flat in the domestic market on Friday as a stronger rupee against the US dollar offset gains in the precious metal in the overseas market. An appreciation in the local currency exerted downward pressure on domestic bullion prices. Gold futures rose in the overseas market as a smaller than expected addition in US payrolls last month signaled a still-sluggish job market recovery in the world’s biggest economy, dampening speculation that the US Federal Reserve will step up the pace of tapering its record monthly bond buying program or raise interest rates earlier than anticipated, bolstering the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. targethit.biz

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