Gold rises on easing US dollar
09/08/2018
Gold rises on easing US dollar
09/08/2018 07:43
Gold futures closed higher in the domestic market on Wednesday as the U.S. dollar and government bond yields both retreated, providing support for bullion. A stronger dollar can make purchasing dollar-pegged metals less attractive to buyers using other currencies, and richer yields for government paper, viewed as a risk-free instrument, can raise the opportunity costs of owning haven bullion, which doesn’t offer a yield and costs to store and insure. At the MCX, gold futures for October 2018 contract ended at Rs 29620 per 10 grams, up by 0.08 per cent, after opening at Rs 29,626 against a previous close of Rs 29,597. It touched the intra-day high of Rs 29,694.
09/08/2018
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Gold rises on easing US dollar
09/08/2018 07:43
Gold futures closed higher in the domestic market on Wednesday as the U.S. dollar and government bond yields both retreated, providing support for bullion. A stronger dollar can make purchasing dollar-pegged metals less attractive to buyers using other currencies, and richer yields for government paper, viewed as a risk-free instrument, can raise the opportunity costs of owning haven bullion, which doesn’t offer a yield and costs to store and insure. At the MCX, gold futures for October 2018 contract ended at Rs 29620 per 10 grams, up by 0.08 per cent, after opening at Rs 29,626 against a previous close of Rs 29,597. It touched the intra-day high of Rs 29,694.
