Gold dips on strong US dollar
10/01/2018
Gold dips on strong US dollar
10/01/2018 07:41
Gold futures closed lower in the domestic market on Tuesday as the U.S. dollar remained buoyant along with global equities, undercutting the appeal of the haven asset. Although gold may witness further losses in the short term amid U.S. [interest] rate hike expectations, the yellow metal still remains bullish. Gold, which is priced in dollars, is highly sensitive to moves in its exchange rate. The two assets typically move inversely. And stock gains tend to, but don’t always, lure investors away from haven gold. At the MCX, gold futures for February 2017 contract ended at Rs 29152 per 10 grams, down by 0.37 per cent, after opening at Rs 29,258 against a previous close of Rs 29,261. It touched the intra-day low of Rs 29,140.
10/01/2018
Commodity Segment
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Gold dips on strong US dollar
10/01/2018 07:41
Gold futures closed lower in the domestic market on Tuesday as the U.S. dollar remained buoyant along with global equities, undercutting the appeal of the haven asset. Although gold may witness further losses in the short term amid U.S. [interest] rate hike expectations, the yellow metal still remains bullish. Gold, which is priced in dollars, is highly sensitive to moves in its exchange rate. The two assets typically move inversely. And stock gains tend to, but don’t always, lure investors away from haven gold. At the MCX, gold futures for February 2017 contract ended at Rs 29152 per 10 grams, down by 0.37 per cent, after opening at Rs 29,258 against a previous close of Rs 29,261. It touched the intra-day low of Rs 29,140.
