Gold Rises as Investors Eye Key Macro Data

Posted By: Religare
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Gold futures closed higher in the domestic market on Wednesday as investors looked ahead to a key U.S. employment reading due late this week.

    Gold Rises as Investors Eye Key Macro Data

    Higher interest rates tend to be dollar-supportive, cutting demand for dollar-priced gold for investors using other currencies. Higher rates also weigh on demand for gold, which doesn't bear interest, in favor of yield-bearing investments.

    At the MCX, gold futures for June 2017 contract ended at Rs 28810 per 10 grams, up by 0.24 per cent, after opening at Rs 28,705 against a previous close of Rs 28,741. It touched the intra-day high of Rs 28,880.

    Read more about: gold dollar
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more