Gold dips on strengthening US dollar
01/11/2017 07:43
Gold futures closed lower in the domestic market on Tuesday pressured as the U.S. dollar regained its footing.
Prices for the yellow metal touched fresh session lows after data showed that U.S. consumer confidence climbed to a nearly 17-month high in October. Investors also eyed tax policy developments and the Russian election meddling probe, and awaited news this week from President Donald Trump on his pick to head the Federal Reserve. The central bank will announce it’s decision on monetary policy on Wednesday.
At the MCX, gold futures for December 2017 contract ended at Rs 29172 per 10 grams, down by 0.72 per cent, after opening at Rs 29,330 against a previous close of Rs 29,384. It touched the intra-day low of Rs 29,136.
01/11/2017 07:43
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Gold futures closed lower in the domestic market on Tuesday pressured as the U.S. dollar regained its footing.
Prices for the yellow metal touched fresh session lows after data showed that U.S. consumer confidence climbed to a nearly 17-month high in October. Investors also eyed tax policy developments and the Russian election meddling probe, and awaited news this week from President Donald Trump on his pick to head the Federal Reserve. The central bank will announce it’s decision on monetary policy on Wednesday.
At the MCX, gold futures for December 2017 contract ended at Rs 29172 per 10 grams, down by 0.72 per cent, after opening at Rs 29,330 against a previous close of Rs 29,384. It touched the intra-day low of Rs 29,136.
