Gold rises on weaker dollar
23/11/201717
Gold rises on weaker dollar
23/11/2017 07:41
Gold futures closed higher in the domestic market on Wednesday on the back of a weaker dollar after minutes from the Federal Reserve’s November meeting hinted that the central bank may not be as aggressive in raising interest rates next year as expected. The Federal Open Market Committee in early November viewed a “near-term” increase in interest rates as likely, but policy makers also expressed more alarm about persistently low inflation. That raises the question of whether the Fed will stick to three planned rate increases in 2018. Higher interest rates are a negative for gold, which tends to benefit from looser monetary policy. At the MCX, gold futures for December 2017 contract ended at Rs 29535 per 10 grams, up by 0.64 per cent, after opening at Rs 29,324 against a previous close of Rs 29,347. It touched the intra-day high of Rs 29,549.
23/11/201717
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Gold rises on weaker dollar
23/11/2017 07:41
Gold futures closed higher in the domestic market on Wednesday on the back of a weaker dollar after minutes from the Federal Reserve’s November meeting hinted that the central bank may not be as aggressive in raising interest rates next year as expected. The Federal Open Market Committee in early November viewed a “near-term” increase in interest rates as likely, but policy makers also expressed more alarm about persistently low inflation. That raises the question of whether the Fed will stick to three planned rate increases in 2018. Higher interest rates are a negative for gold, which tends to benefit from looser monetary policy. At the MCX, gold futures for December 2017 contract ended at Rs 29535 per 10 grams, up by 0.64 per cent, after opening at Rs 29,324 against a previous close of Rs 29,347. It touched the intra-day high of Rs 29,549.
