Gold dips after release of Fed Reserve’s Beige Book
18/01/2018
Gold dips after release of Fed Reserve’s Beige Book
18/01/2018 07:43
Gold futures closed lower in the domestic market on Wednesday as prices eased back a bit shortly after the release of the Federal Reserve’s Beige Book. The dollar pulled back after earlier strength. Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies. At the MCX, gold futures for February 2018 contract ended at Rs 29762 per 10 grams, down by 0.20 per cent, after opening at Rs 29,801 against a previous close of Rs 29,822. It touched the intra-day low of Rs 29,680.
18/01/2018
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Gold dips after release of Fed Reserve’s Beige Book
18/01/2018 07:43
Gold futures closed lower in the domestic market on Wednesday as prices eased back a bit shortly after the release of the Federal Reserve’s Beige Book. The dollar pulled back after earlier strength. Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies. At the MCX, gold futures for February 2018 contract ended at Rs 29762 per 10 grams, down by 0.20 per cent, after opening at Rs 29,801 against a previous close of Rs 29,822. It touched the intra-day low of Rs 29,680.
