Gold dips on rising US Treasury yields
05/06/2018
Gold dips on rising US Treasury yields
05/06/2018 07:42
Gold futures closed lower in the domestic market on Monday as U.S. benchmark stock indexes and Treasury yields rose, dulling investment interest in the precious metal. Rising real interest rates impact the opportunity costs of holding gold because the metal provides no yield and entices investors to rotate into riskier assets like stocks. Higher rates may also boost the value of the dollar, which usually moves in the opposite direction of the gold price. At the MCX, gold futures for August 2018 contract ended at Rs 30895 per 10 grams, down by 0.05 per cent, after opening at Rs 30,900 against a previous close of Rs 30,909. It touched the intra-day low of Rs 30,825.
05/06/2018
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Gold dips on rising US Treasury yields
05/06/2018 07:42
Gold futures closed lower in the domestic market on Monday as U.S. benchmark stock indexes and Treasury yields rose, dulling investment interest in the precious metal. Rising real interest rates impact the opportunity costs of holding gold because the metal provides no yield and entices investors to rotate into riskier assets like stocks. Higher rates may also boost the value of the dollar, which usually moves in the opposite direction of the gold price. At the MCX, gold futures for August 2018 contract ended at Rs 30895 per 10 grams, down by 0.05 per cent, after opening at Rs 30,900 against a previous close of Rs 30,909. It touched the intra-day low of Rs 30,825.
