Gold dips on rate hike fears
20/02/2017 08:34
Gold futures closed lower in the domestic market on Friday as the strong likelihood of the Fed raising U.S. interest rates this year pressured gold. Gold and the dollar often move inversely as a richer dollar dulls the appeal of investors using other currencies. At the MCX, gold futures for April 2017 contract ended at Rs 29358 per 10 grams, down by 0.20 per cent, after opening at Rs 29,347 against a previous close of Rs 29,416. It touched the intra-day low of Rs 29,302.
20/02/2017 08:34
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Gold futures closed lower in the domestic market on Friday as the strong likelihood of the Fed raising U.S. interest rates this year pressured gold. Gold and the dollar often move inversely as a richer dollar dulls the appeal of investors using other currencies. At the MCX, gold futures for April 2017 contract ended at Rs 29358 per 10 grams, down by 0.20 per cent, after opening at Rs 29,347 against a previous close of Rs 29,416. It touched the intra-day low of Rs 29,302.
