Gold futures end higher on the US incentive expectation

Gold futures ended higher in the domestic market on Friday as investors and Spiv booked new positions in the valuable metal tracking a firm tendency in the abroad market as a smaller than predictable addition in US payrolls last month signaled a still- slack job market improvement in the world’s biggest financial system, dampening speculation that the US Federal Reserve will step up the pace of narrowing its monthly record bond buying program or raise interest rates previous than anticipated, bolstering the cessation of the bullion, which is a poundage against the inflationary risk of financial incentive. 

The US financial system created 192,000 jobs in March 2014 compared to 200,000 predictable with analysts’, data showed. US Federal Reserve officials said lately that sluggish in the labor market boost case for continuous accommodative financial policy while slowing inflation may expedite the central bank to halt tapering. Gold futures may rise today tracking firm worldwide cues on refurbishing hopes that the US Fed will not accelerate QE tapering. Gold futures for April 2014 contract, at MCX, closed at Rs. 28,260 per ten grams, up by 0.45%, after opening at Rs. 28,150, against the previous closing price of Rs 28, 132. It touched an intra-day high of Rs 28,342.