Gold rises as investors eye key macro data
01/06/2017
Gold futures closed higher in the domestic market on Wednesday as investors looked ahead to a key U.S. employment reading due late this week.
Higher interest rates tend to be dollar-supportive, cutting demand for dollar-priced gold for investors using other currencies. Higher rates also weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments.
At the MCX, gold futures for June 2017 contract ended at Rs 28810 per 10 grams, up by 0.24 per cent, after opening at Rs 28,705 against a previous close of Rs 28,741. It touched the intra-day high of Rs 28,880.
Equity Cash/Futures/Options Segment
01/06/2017
Gold futures closed higher in the domestic market on Wednesday as investors looked ahead to a key U.S. employment reading due late this week.
Higher interest rates tend to be dollar-supportive, cutting demand for dollar-priced gold for investors using other currencies. Higher rates also weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments.
At the MCX, gold futures for June 2017 contract ended at Rs 28810 per 10 grams, up by 0.24 per cent, after opening at Rs 28,705 against a previous close of Rs 28,741. It touched the intra-day high of Rs 28,880.
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