Gold rises on feeble US dollar
17/02/2017 08:17
Gold futures closed higher in the domestic market on Thursday as the U.S. dollar backed away from the session’s highs, giving the precious metal an opportunity to rebound after a four-session fall. The yellow metal’s gain on Wednesday snapped what had been a four-session fall stoked by expectations that the dollar would rise on heightened expectations for U.S. interest-rate hikes, following two days of testimony this week on Capitol Hill from Federal Reserve Chairwoman Janet Yellen. At the MCX, gold futures for April 2017 contract ended at Rs 29482 per 10 grams, up by 1.16 per cent, after opening at Rs 29,195 against a previous close of Rs 29,143. It touched the intra-day high of Rs 29,485.
17/02/2017 08:17
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Gold futures closed higher in the domestic market on Thursday as the U.S. dollar backed away from the session’s highs, giving the precious metal an opportunity to rebound after a four-session fall. The yellow metal’s gain on Wednesday snapped what had been a four-session fall stoked by expectations that the dollar would rise on heightened expectations for U.S. interest-rate hikes, following two days of testimony this week on Capitol Hill from Federal Reserve Chairwoman Janet Yellen. At the MCX, gold futures for April 2017 contract ended at Rs 29482 per 10 grams, up by 1.16 per cent, after opening at Rs 29,195 against a previous close of Rs 29,143. It touched the intra-day high of Rs 29,485.
