Gold dips as dollar rises
20/12/2017
20/12/2017 07:46
Gold futures closed lower in the domestic market on Tuesday as US Treasury yields jumped and the dollar rose off session lows ahead of the House of Representatives’ vote on legislation that would slash corporate tax rates. Higher debt yields can dent the appeal of nonyielding gold and other commodities. Gold had previously pushed higher as U.S. front-end Treasury yields declined, bolstering the appeal of non-interest-bearing alternatives. At the MCX, gold futures for February 2017 contract ended at Rs 28422 per 10 grams, down by 0.17 per cent, after opening at Rs 28,462 against a previous close of Rs 28,470. It touched the intra-day low of Rs 28,374.
20/12/2017
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Gold dips as dollar rises20/12/2017 07:46
Gold futures closed lower in the domestic market on Tuesday as US Treasury yields jumped and the dollar rose off session lows ahead of the House of Representatives’ vote on legislation that would slash corporate tax rates. Higher debt yields can dent the appeal of nonyielding gold and other commodities. Gold had previously pushed higher as U.S. front-end Treasury yields declined, bolstering the appeal of non-interest-bearing alternatives. At the MCX, gold futures for February 2017 contract ended at Rs 28422 per 10 grams, down by 0.17 per cent, after opening at Rs 28,462 against a previous close of Rs 28,470. It touched the intra-day low of Rs 28,374.
