Gold down as US rate hike likely
09/03/2017 08:41
Gold futures closed lower in the domestic market on Wednesday as expectations for a U.S. interest-rate increase as early as next week dulled investment demand for the precious metal.
The expectation for higher rates can lift the dollar, which can undercut appetite for assets priced in the currency. Higher interest rates can also diminish the appeal of precious metals like gold, which don’t bear a yield.
At the MCX, gold futures for April 2017 contract ended at Rs 28650 per 10 grams, down by 0.35 per cent, after opening at Rs 28,774 against a previous close of Rs 28,751. It touched the intra-day low of Rs 28,581.
09/03/2017 08:41
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9470940040
Gold futures closed lower in the domestic market on Wednesday as expectations for a U.S. interest-rate increase as early as next week dulled investment demand for the precious metal.
The expectation for higher rates can lift the dollar, which can undercut appetite for assets priced in the currency. Higher interest rates can also diminish the appeal of precious metals like gold, which don’t bear a yield.
At the MCX, gold futures for April 2017 contract ended at Rs 28650 per 10 grams, down by 0.35 per cent, after opening at Rs 28,774 against a previous close of Rs 28,751. It touched the intra-day low of Rs 28,581.
