Gold Down on Strength in US Stocks

Posted By: Religare
Subscribe to GoodReturns

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
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC