Gold dips on rising US dollar : 24/09/2018
Gold dips on rising US dollar
24/09/2018 07:14
Gold futures closed lower in the domestic market on Friday as a record climb for U.S. stocks and newfound buoyancy in the dollar combined to deliver a stiff headwind for bullion, ahead of a Federal Reserve meeting that is expected to result in higher rates next week. Currency and metals market attention is fixed on next week’s interest-rate decision. Fed policy makers will meet for a two-day meeting ending Sept. 26 and the market is pricing in over a 90 per cent chance of a quarter-point rate increase then. At the MCX, gold futures for October 2018 contract ended at Rs 30582 per 10 grams, down by 0.06 per cent, after opening at Rs 30,700 against a previous close of Rs 30,599. It touched the intra-day low of Rs 30,485.
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Gold dips on rising US dollar
24/09/2018 07:14
Gold futures closed lower in the domestic market on Friday as a record climb for U.S. stocks and newfound buoyancy in the dollar combined to deliver a stiff headwind for bullion, ahead of a Federal Reserve meeting that is expected to result in higher rates next week. Currency and metals market attention is fixed on next week’s interest-rate decision. Fed policy makers will meet for a two-day meeting ending Sept. 26 and the market is pricing in over a 90 per cent chance of a quarter-point rate increase then. At the MCX, gold futures for October 2018 contract ended at Rs 30582 per 10 grams, down by 0.06 per cent, after opening at Rs 30,700 against a previous close of Rs 30,599. It touched the intra-day low of Rs 30,485.
