Gold dips as US rate hike likely
07/03/2017 08:32
Gold futures closed lower in the domestic market on Monday pressured by expectations for a U.S. interest-rate increase as early as this month, but with uncertainty surrounding a wide swath of geopolitics helping to limit any losses for the safe-haven asset. Traditionally, higher Fed interest rates can make the U.S. dollar strengthen, weighing on prices for gold, which is primarily traded in the greenback. At the MCX, gold futures for April 2017 contract ended at Rs 28938 per 10 grams, down by 0.28 per cent, after opening at Rs 29,100 against a previous close of Rs 29,020. It touched the intra-day low of Rs 28,923.
07/03/2017 08:32
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Gold futures closed lower in the domestic market on Monday pressured by expectations for a U.S. interest-rate increase as early as this month, but with uncertainty surrounding a wide swath of geopolitics helping to limit any losses for the safe-haven asset. Traditionally, higher Fed interest rates can make the U.S. dollar strengthen, weighing on prices for gold, which is primarily traded in the greenback. At the MCX, gold futures for April 2017 contract ended at Rs 28938 per 10 grams, down by 0.28 per cent, after opening at Rs 29,100 against a previous close of Rs 29,020. It touched the intra-day low of Rs 28,923.
