Gold Down on Strength in US Stocks

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

    Gold futures closed lower in the international market on Tuesday with strength in the U.S. stock market dulling demand for the precious metal amid uncertainty surrounding the leadership for the U.S. Federal Reserve.

    Gold Down on Strength in US Stocks

    Precious metals prices have been hurt last week by a rising dollar, which has also received a boost from rising expectations that interest rates will go up in December.

    Higher interest rates dull the appeal of nonyielding metals, in favor of interest-bearing assets, making gold less attractive. Additionally, a stronger greenback tends to hurt dollar-denominated commodities, because they then become more expensive for holders of other currencies.

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

    Find IFSC

    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