Gold rises on weakness in global equities
21/08/2017
Gold futures closed higher in the domestic market on Friday getting a lift from haven demand on the back of earlier weakness in global equities, a terrorist attack in Barcelona and concerns about President Donald Trump’s pro-business agenda.Gold prices usually fall when interest rates go up, because the metal becomes less attractive compared with assets that offer yields. A weaker dollar tends to send metals, such as gold higher, because the commodity becomes cheaper for other currency holders to purchase.At the MCX, gold futures for October 2017 contract ended at Rs 29214 per 10 grams, up by 0.22 per cent, after opening at Rs 29,170 against a previous close of Rs 29,151. It touched the intra-day high of Rs 29,443.
21/08/2017
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Gold futures closed higher in the domestic market on Friday getting a lift from haven demand on the back of earlier weakness in global equities, a terrorist attack in Barcelona and concerns about President Donald Trump’s pro-business agenda.Gold prices usually fall when interest rates go up, because the metal becomes less attractive compared with assets that offer yields. A weaker dollar tends to send metals, such as gold higher, because the commodity becomes cheaper for other currency holders to purchase.At the MCX, gold futures for October 2017 contract ended at Rs 29214 per 10 grams, up by 0.22 per cent, after opening at Rs 29,170 against a previous close of Rs 29,151. It touched the intra-day high of Rs 29,443.
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