old roses in international market Ahead of budget in India gold softened, while it roses in international market after a poor performance of German factory orders fell more than expected. Gold is seems to be a one of the safest investment tool and considering Iraq tension to hedge the risk investors parking funds into bullion. International market bullion for immediate delivery rose than 0.1 percent to $1319.94 an ounce. Gold for August delivery rose 0.1 percent to $1321.10 an ounce on the Comex in New York. In the domestic market ahead of full year budget for FY 2014-15, investors took a cautious approach. Decline in Fiscal deficit and improved Current Account Deficit, bullion traders are expecting that finance minister may cut down import duty on gold. This will make gold cheaper. For FY 2014-15, Finance Minister Arun Jetly will present budget on July 10. Last Saturday Gold settled at 28,100 per 10 gm. (Gold investment is subject to market risk. Before investing, please consult financial expert.)
Posted on: Mon, 07 Jul 2014 05:00:00 +0000
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