Gold down on strong US dollar
06/02/2018
Gold down on strong US dollar
06/02/2018 07:42
Gold futures closed lower in the domestic market on Monday as recent data showing stronger U.S. hiring and wages boosted the prospects for a more aggressive Federal Reserve approach to interest rates and continued to lift the dollar. 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 30250 per 10 grams, down by 0.39 per cent, after opening at Rs 30,420 against a previous close of Rs 30,367. It touched the intra-day low of Rs 30,222.
06/02/2018
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Gold down on strong US dollar
06/02/2018 07:42
Gold futures closed lower in the domestic market on Monday as recent data showing stronger U.S. hiring and wages boosted the prospects for a more aggressive Federal Reserve approach to interest rates and continued to lift the dollar. 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 30250 per 10 grams, down by 0.39 per cent, after opening at Rs 30,420 against a previous close of Rs 30,367. It touched the intra-day low of Rs 30,222.
