Gold dips as investors exercise caution
08/01/2018
Gold dips as investors exercise caution
08/01/2018 07:36
Gold futures closed lower in the domestic market on Friday with some caution emerging among investors after the metal hit 10-straight sessions of gains on Thursday. The dollar, which usually moves inversely to gold, was initially higher, was pushed lower by the employment report, then bounced back. 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 29212 per 10 grams, down by 0.06 per cent, after opening at Rs 29,250 against a previous close of Rs 29,230. It touched the intra-day low of Rs 29,155.
08/01/2018
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Gold dips as investors exercise caution
08/01/2018 07:36
Gold futures closed lower in the domestic market on Friday with some caution emerging among investors after the metal hit 10-straight sessions of gains on Thursday. The dollar, which usually moves inversely to gold, was initially higher, was pushed lower by the employment report, then bounced back. 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 29212 per 10 grams, down by 0.06 per cent, after opening at Rs 29,250 against a previous close of Rs 29,230. It touched the intra-day low of Rs 29,155.
