Gold rises on weak US dollar
28/12/2017
28/12/2017 07:41
Gold futures closed higher in the domestic market on Wednesday as the U.S. dollar weakened slightly, offering a lift to the yellow metal. 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. The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday. At the MCX, gold futures for February 2017 contract ended at Rs 28959 per 10 grams, up by 0.45 per cent, after opening at Rs 28,805 against a previous close of Rs 28,829. It touched the intra-day high of Rs 28,959.
28/12/2017
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Gold rises on weak US dollar28/12/2017 07:41
Gold futures closed higher in the domestic market on Wednesday as the U.S. dollar weakened slightly, offering a lift to the yellow metal. 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. The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday. At the MCX, gold futures for February 2017 contract ended at Rs 28959 per 10 grams, up by 0.45 per cent, after opening at Rs 28,805 against a previous close of Rs 28,829. It touched the intra-day high of Rs 28,959.
