Gold dips as impact of hurricane fades
12/09/2017
Gold futures closed lower in the domestic market on Monday as investor interest in assets, such as stocks, that are perceived as riskier, found buying interest on fading worries surrounding North Korea and Hurricane Irma. Investors had also been worried about economic and safety risks in the run-up to Hurricane Irma, which made landfall in Florida over the weekend. The hurricane has been downgraded to a tropical storm. The weaker-than-expected storm and ebbing worries over North Korea helped boost global equities, with U.S. stocks trading broadly higher Monday. At the MCX, gold futures for October 2017 contract ended at Rs 29930 per 10 grams, down by 1.12 per cent, after opening at Rs 30,200 against a previous close of Rs 30,268. It touched the intra-day low of Rs 29,917.
12/09/2017
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Gold futures closed lower in the domestic market on Monday as investor interest in assets, such as stocks, that are perceived as riskier, found buying interest on fading worries surrounding North Korea and Hurricane Irma. Investors had also been worried about economic and safety risks in the run-up to Hurricane Irma, which made landfall in Florida over the weekend. The hurricane has been downgraded to a tropical storm. The weaker-than-expected storm and ebbing worries over North Korea helped boost global equities, with U.S. stocks trading broadly higher Monday. At the MCX, gold futures for October 2017 contract ended at Rs 29930 per 10 grams, down by 1.12 per cent, after opening at Rs 30,200 against a previous close of Rs 30,268. It touched the intra-day low of Rs 29,917.
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