Gold Slides Down Due To Strengthening Dollar And Easing Korean Tension

By Archana L
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Gold, the yellow metal dropped down to its lowest level since six weeks on Monday as a sign of softening tension on the peninsular land of Korea.

    Gold Slides Down Due To Strengthening Dollar And Easing Korean Tension

    The price of gold fell by 0.68 percent and stood at Rs 31,000 for 10 grams today.

    The metal dropped by 1 percent last week in the backdrop of steady dollar and surge in the treasury yields to more than 3 percent.

    Spot Gold was down by 0.63 percent at $1,313.80 an ounce at 8:54 a.m. ET.

    U.S. Gold Futures for June delivery fell by 0.71 percent at $1,314.00.

    Traders believe that the easing geopolitical tension and tough dollar are the main factors which is attributing to the fall in the price of the precious metal.

    North Korean leader Kim Jong Un and his southern counterpart Moon Jae-in, President of South Korea declared that they will take steps to formally end the Korean War and will work toward the denuclearization of the Korean peninsular.

    Read more about: gold
    Story first published: Monday, April 30, 2018, 18:39 [IST]
    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