Gold rises as US dollar extends decline
15/01/2018
Gold rises as US dollar extends decline
15/01/2018 07:37
Gold futures closed higher in the domestic market on Friday as the dollar extended its earlier decline despite a slightly higher-than-expected climb in core U.S. inflation.
Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies. Weakness in the U.S. stock market can also lure investors back to the precious metal.
At the MCX, gold futures for February 2018 contract ended at Rs 29555 per 10 grams, up by 0.56 per cent, after opening at Rs 29,450 against a previous close of Rs 29,390. It touched the intra-day high of Rs 29,580.
15/01/2018
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Gold rises as US dollar extends decline
15/01/2018 07:37
Gold futures closed higher in the domestic market on Friday as the dollar extended its earlier decline despite a slightly higher-than-expected climb in core U.S. inflation.
Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies. Weakness in the U.S. stock market can also lure investors back to the precious metal.
At the MCX, gold futures for February 2018 contract ended at Rs 29555 per 10 grams, up by 0.56 per cent, after opening at Rs 29,450 against a previous close of Rs 29,390. It touched the intra-day high of Rs 29,580.
