Gold dips on strengthening dollar
21/02/2018
Gold dips on strengthening dollar
21/02/2018 07:42
Gold futures closed lower in the domestic market on Tuesday against a backdrop of a strengthening dollar and stabilizing equities. Precious metals lost ground as the dollar sprung higher following last week’s sharp decline, which has mostly extended a protracted downtrend for the commodity-pegged currency. A weaker dollar can boost commodities priced in dollars, because it makes them cheaper to buy for holders of other currencies. At the MCX, gold futures for April 2018 contract ended at Rs 30528 per 10 grams, down by 0.70 per cent, after opening at Rs 30,629 against a previous close of Rs 30,742. It touched the intra-day low of Rs 30,511.
21/02/2018
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Gold dips on strengthening dollar
21/02/2018 07:42
Gold futures closed lower in the domestic market on Tuesday against a backdrop of a strengthening dollar and stabilizing equities. Precious metals lost ground as the dollar sprung higher following last week’s sharp decline, which has mostly extended a protracted downtrend for the commodity-pegged currency. A weaker dollar can boost commodities priced in dollars, because it makes them cheaper to buy for holders of other currencies. At the MCX, gold futures for April 2018 contract ended at Rs 30528 per 10 grams, down by 0.70 per cent, after opening at Rs 30,629 against a previous close of Rs 30,742. It touched the intra-day low of Rs 30,511.
