Gold down on rise in global stocks
19/09/2017
Gold futures closed lower in the domestic market on Monday as record highs for key U.S. stock market indexes lured investors away from the precious metal. Still, markets are anxious for signs of a rate increase forthcoming in December. Higher rates boost the dollar, in which gold is priced. A rising interest-rate climate also tends to dull the appeal of nonyielding bullion. At the MCX, gold futures for October 2017 contract ended at Rs 29541 per 10 grams, down by 1.06 per cent, after opening at Rs 29,820 against a previous close of Rs 29,856. It touched the intra-day low of Rs 29,538.
19/09/2017
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Gold futures closed lower in the domestic market on Monday as record highs for key U.S. stock market indexes lured investors away from the precious metal. Still, markets are anxious for signs of a rate increase forthcoming in December. Higher rates boost the dollar, in which gold is priced. A rising interest-rate climate also tends to dull the appeal of nonyielding bullion. At the MCX, gold futures for October 2017 contract ended at Rs 29541 per 10 grams, down by 1.06 per cent, after opening at Rs 29,820 against a previous close of Rs 29,856. It touched the intra-day low of Rs 29,538.
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