Gold dips as US dollar climbs
30/01/2018
Gold dips as US dollar climbs
30/01/2018 07:43
Gold futures closed lower in the domestic market on Monday as a dollar gauge climbed and benchmark Treasury yields cleared their highest level since April 2014. Selling has set in ahead of the U.S. Federal Open Market Committee monetary policy meeting, which concludes Wednesday, and January nonfarm payrolls due on Friday, putting pressure on gold prices. Gold, which is priced in dollars, often trades inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of the precious metal to holders of other currencies. At the MCX, gold futures for February 2018 contract ended at Rs 30035 per 10 grams, down by 1.11 per cent, after opening at Rs 30,150 against a previous close of Rs 30,361. It touched the intra-day low of Rs 29,980.
30/01/2018
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Gold dips as US dollar climbs
30/01/2018 07:43
Gold futures closed lower in the domestic market on Monday as a dollar gauge climbed and benchmark Treasury yields cleared their highest level since April 2014. Selling has set in ahead of the U.S. Federal Open Market Committee monetary policy meeting, which concludes Wednesday, and January nonfarm payrolls due on Friday, putting pressure on gold prices. Gold, which is priced in dollars, often trades inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of the precious metal to holders of other currencies. At the MCX, gold futures for February 2018 contract ended at Rs 30035 per 10 grams, down by 1.11 per cent, after opening at Rs 30,150 against a previous close of Rs 30,361. It touched the intra-day low of Rs 29,980.
