Gold rises on mixed economic data
26/12/2017
26/12/2017 07:30
Gold futures closed higher in the domestic market on Friday after a flurry of economic news offered a mixed picture on the economy, data that could still back up expectations for continued, if modest, Federal Reserve interest-rate tightening deep into 2018.
Gold, which is priced in dollars, is highly sensitive to moves in its exchange rate. The two assets typically move inversely. And stock gains tend to, but don’t always, lure investors away from haven gold.
At the MCX, gold futures for February 2017 contract ended at Rs 28658 per 10 grams, up by 0.55 per cent, after opening at Rs 28,484 against a previous close of Rs 28,501. It touched the intra-day high of Rs 28,666.
26/12/2017
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Gold rises on mixed economic data26/12/2017 07:30
Gold futures closed higher in the domestic market on Friday after a flurry of economic news offered a mixed picture on the economy, data that could still back up expectations for continued, if modest, Federal Reserve interest-rate tightening deep into 2018.
Gold, which is priced in dollars, is highly sensitive to moves in its exchange rate. The two assets typically move inversely. And stock gains tend to, but don’t always, lure investors away from haven gold.
At the MCX, gold futures for February 2017 contract ended at Rs 28658 per 10 grams, up by 0.55 per cent, after opening at Rs 28,484 against a previous close of Rs 28,501. It touched the intra-day high of Rs 28,666.
