Gold up on weaker US dollar
25/01/2018
Gold up on weaker US dollar
25/01/2018 07:46
Gold futures closed higher in the domestic market on Wednesday as Trump administration comments favoring a weaker dollar knocked the U.S. currency to three-year lows and buoyed the yellow 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 30291 per 10 grams, up by 1.27 per cent, after opening at Rs 29,935 against a previous close of Rs 29,911. It touched the intra-day high of Rs 30,291.
25/01/2018
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Gold up on weaker US dollar
25/01/2018 07:46
Gold futures closed higher in the domestic market on Wednesday as Trump administration comments favoring a weaker dollar knocked the U.S. currency to three-year lows and buoyed the yellow 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 30291 per 10 grams, up by 1.27 per cent, after opening at Rs 29,935 against a previous close of Rs 29,911. It touched the intra-day high of Rs 30,291.
