Gold down as US dollar rises
31/01/2018
Gold down as US dollar rises
31/01/2018 07:39
Gold futures closed lower in the domestic market on Tuesday as a dollar gauge climbed and benchmark Treasury yields cleared their highest level since April 2014. Gold initially found haven-related support as global equities and Treasurys saw renewed selling pressure. But while the U.S. dollar remained under pressure, the currency trimmed initial losses, which appeared to sap support for the metal. Gold, which is priced in dollars, often trades inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of the precious metal to holders of other currencies. At the MCX, gold futures for February 2018 contract ended at Rs 29991 per 10 grams, down by 0.23 per cent, after opening at Rs 29,978 against a previous close of Rs 30,060. It touched the intra-day low of Rs 29,954.
31/01/2018
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Gold down as US dollar rises
31/01/2018 07:39
Gold futures closed lower in the domestic market on Tuesday as a dollar gauge climbed and benchmark Treasury yields cleared their highest level since April 2014. Gold initially found haven-related support as global equities and Treasurys saw renewed selling pressure. But while the U.S. dollar remained under pressure, the currency trimmed initial losses, which appeared to sap support for the metal. Gold, which is priced in dollars, often trades inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of the precious metal to holders of other currencies. At the MCX, gold futures for February 2018 contract ended at Rs 29991 per 10 grams, down by 0.23 per cent, after opening at Rs 29,978 against a previous close of Rs 30,060. It touched the intra-day low of Rs 29,954.
