Gold up on decline in US equity
26/09/2017
Gold futures closed higher in the domestic market on Monday as declines in the U.S. stock market and growing tensions between the U.S. and North Korea lifted prices for the yellow metal to the highest settlement in more than week. Recent military tensions between North Korea and the U.S. and its allies has helped to underpin gold’s haven status as a hedge against a sudden escalation in geopolitical tension. A busy lineup of Fed speakers this week featuring the central bank’s chairwoman, Janet Yellen, on Tuesday, and Vice Chair Stanley Fischer on Thursday will also influence the gold prices. At the MCX, gold futures for October 2017 contract ended at Rs 30038 per 10 grams, up by 1.53 per cent, after opening at Rs 29,510 against a previous close of Rs 29,585. It touched the intra-day high of Rs 30,129.
26/09/2017
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Gold futures closed higher in the domestic market on Monday as declines in the U.S. stock market and growing tensions between the U.S. and North Korea lifted prices for the yellow metal to the highest settlement in more than week. Recent military tensions between North Korea and the U.S. and its allies has helped to underpin gold’s haven status as a hedge against a sudden escalation in geopolitical tension. A busy lineup of Fed speakers this week featuring the central bank’s chairwoman, Janet Yellen, on Tuesday, and Vice Chair Stanley Fischer on Thursday will also influence the gold prices. At the MCX, gold futures for October 2017 contract ended at Rs 30038 per 10 grams, up by 1.53 per cent, after opening at Rs 29,510 against a previous close of Rs 29,585. It touched the intra-day high of Rs 30,129.
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