Gold dips on strengthening US dollar : 31/08/2018
Gold dips on strengthening US dollar
31/08/2018 06:21
Gold futures closed lower in the domestic market on Thursday pressured by some strength in the dollar as U.S. economic data reinforced expectations the Federal Reserve will stick to a steady pace of rate increases. A weaker dollar can make dollar-pegged assets more attractive to buyers using other monetary units, but rising yields can diminish the appeal of bullion which doesn’t offer a yield. At the MCX, gold futures for October 2018 contract ended at Rs 30170 per 10 grams, down by 0.06 per cent, after opening at Rs 30,151 against a previous close of Rs 30,188. It touched the intra-day low of Rs 30,110.
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Gold dips on strengthening US dollar
31/08/2018 06:21
Gold futures closed lower in the domestic market on Thursday pressured by some strength in the dollar as U.S. economic data reinforced expectations the Federal Reserve will stick to a steady pace of rate increases. A weaker dollar can make dollar-pegged assets more attractive to buyers using other monetary units, but rising yields can diminish the appeal of bullion which doesn’t offer a yield. At the MCX, gold futures for October 2018 contract ended at Rs 30170 per 10 grams, down by 0.06 per cent, after opening at Rs 30,151 against a previous close of Rs 30,188. It touched the intra-day low of Rs 30,110.
