Gold futures closed higher in the domestic market on Thursday as many gold investors saw the Fed as dovish, even if it left a September interest-rate increase on the table.
To some traders, the central bank’s statement emphasized a reluctance to lift rates too quickly, in the wake of the U.K.’s decision to exit the European Union. Uncertainty in the aftermath of the so-called Brexit vote has been supportive for gold futures.
At the MCX, Gold futures for August 2016 contract closed at Rs 31,012, per 10 gram, up by 0.08 per cent after opening at Rs 31,149, against the previous closing price of Rs 30,986. It touched the intra-day high of Rs 31,285.
To some traders, the central bank’s statement emphasized a reluctance to lift rates too quickly, in the wake of the U.K.’s decision to exit the European Union. Uncertainty in the aftermath of the so-called Brexit vote has been supportive for gold futures.
At the MCX, Gold futures for August 2016 contract closed at Rs 31,012, per 10 gram, up by 0.08 per cent after opening at Rs 31,149, against the previous closing price of Rs 30,986. It touched the intra-day high of Rs 31,285.
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