Gold down on strength in US dollar
06/12/2017
Gold down on strength in US dollar
06/12/2017 07:40
Gold futures closed lower in the domestic market on Tuesday as strength in the U.S. dollar and stock market, and upbeat economic data, weighed on the metal’s haven appeal. Investors await the nonfarm-payroll report due Friday for clues on the U.S. Federal Reserve’s path on interest-rate hikes. Higher rates are typically a negative factor for nonyielding bullion, while also boosting the dollar, making U.S.-priced gold less attractive to investors using another currency. At the MCX, gold futures for December 2017 contract ended at Rs 28800 per 10 grams, down by 0.78 per cent, after opening at Rs 29,068 against a previous close of Rs 29,027. It touched the intra-day low of Rs 28,800.
06/12/2017
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Gold down on strength in US dollar
06/12/2017 07:40
Gold futures closed lower in the domestic market on Tuesday as strength in the U.S. dollar and stock market, and upbeat economic data, weighed on the metal’s haven appeal. Investors await the nonfarm-payroll report due Friday for clues on the U.S. Federal Reserve’s path on interest-rate hikes. Higher rates are typically a negative factor for nonyielding bullion, while also boosting the dollar, making U.S.-priced gold less attractive to investors using another currency. At the MCX, gold futures for December 2017 contract ended at Rs 28800 per 10 grams, down by 0.78 per cent, after opening at Rs 29,068 against a previous close of Rs 29,027. It touched the intra-day low of Rs 28,800.
