Gold down on stabilizing dollar
12/02/2018
Gold down on stabilizing dollar
12/02/2018 07:38
Gold futures closed lower in the domestic market on Friday as investors eyed volatility in global stocks and a leading dollar index aimed for its best weekly performance in more than a year. It is becoming increasingly clear that the yellow metal remains pressured by a stabilizing dollar and rising expectations of higher U.S. interest rates. 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 April 2018 contract ended at Rs 30015 per 10 grams, down by 0.31 per cent, after opening at Rs 30,055 against a previous close of Rs 30,107. It touched the intra-day low of Rs 29,891.
12/02/2018
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Gold down on stabilizing dollar
12/02/2018 07:38
Gold futures closed lower in the domestic market on Friday as investors eyed volatility in global stocks and a leading dollar index aimed for its best weekly performance in more than a year. It is becoming increasingly clear that the yellow metal remains pressured by a stabilizing dollar and rising expectations of higher U.S. interest rates. 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 April 2018 contract ended at Rs 30015 per 10 grams, down by 0.31 per cent, after opening at Rs 30,055 against a previous close of Rs 30,107. It touched the intra-day low of Rs 29,891.
