Gold dips on firmer US dollar
06/03/2018
Gold dips on firmer US dollar
06/03/2018 07:36
Gold futures closed lower in the domestic market on Monday as pressure from a firmer U.S. dollar and gains in the stock market offset earlier haven support from jitters about a potential trade war and uncertainty for the European Union following Italy’s divisive election. The dollar index had touched six-week highs last week on a fortified outlook for continued U.S. interest-rate hikes this year before trade concerns knocked the buck lower Thursday and Friday. U.S. stocks, meanwhile, bounced back from earlier losses on the back of some positive economic data, dulling some of gold’s investment appeal. At the MCX, gold futures for April 2018 contract ended at Rs 30360 per 10 grams, down by 0.29 per cent, after opening at Rs 30,460 against a previous close of Rs 30,448. It touched the intra-day low of Rs 30,341.
06/03/2018
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Gold dips on firmer US dollar
06/03/2018 07:36
Gold futures closed lower in the domestic market on Monday as pressure from a firmer U.S. dollar and gains in the stock market offset earlier haven support from jitters about a potential trade war and uncertainty for the European Union following Italy’s divisive election. The dollar index had touched six-week highs last week on a fortified outlook for continued U.S. interest-rate hikes this year before trade concerns knocked the buck lower Thursday and Friday. U.S. stocks, meanwhile, bounced back from earlier losses on the back of some positive economic data, dulling some of gold’s investment appeal. At the MCX, gold futures for April 2018 contract ended at Rs 30360 per 10 grams, down by 0.29 per cent, after opening at Rs 30,460 against a previous close of Rs 30,448. It touched the intra-day low of Rs 30,341.
