Gold rises on weaker US dollar
11/10/2017
Gold futures closed higher in the domestic market on Tuesday as the U.S. dollar continued to weaken.The weaker dollar has been the main reason why buck-denominated gold has rallied with the greenback still reeling from Friday’s release of the weaker U.S. jobs report. The greenback was also sharply weaker as traders regained confidence in the U.K. economy and eyed potential actions by the European Central Bank, lifting the British pound and euro.At the MCX, gold futures for December 2017 contract ended at Rs 29817 per 10 grams, up by 0.29 per cent, after opening at Rs 29,780 against a previous close of Rs 29,732. It touched the intra-day high of Rs 29,859.
11/10/2017
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Gold futures closed higher in the domestic market on Tuesday as the U.S. dollar continued to weaken.The weaker dollar has been the main reason why buck-denominated gold has rallied with the greenback still reeling from Friday’s release of the weaker U.S. jobs report. The greenback was also sharply weaker as traders regained confidence in the U.K. economy and eyed potential actions by the European Central Bank, lifting the British pound and euro.At the MCX, gold futures for December 2017 contract ended at Rs 29817 per 10 grams, up by 0.29 per cent, after opening at Rs 29,780 against a previous close of Rs 29,732. It touched the intra-day high of Rs 29,859.
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