Gold futures closed higher in the domestic market on Monday as uncertainty surrounding the U.S. Federal Reserve’s pace of interest-rate hikes has helped weaken the dollar and drive down interest rates.
Higher interest rates can boost the dollar and make gold less competitive against interest-bearing investments.
At the MCX, gold futures for February 2017 contract ended at Rs 28065 per 10 grams, up by 0.64 per cent, after opening at Rs 27,915 against a previous close of Rs 27,887. It touched the intra-day high of Rs 28,080.
Higher interest rates can boost the dollar and make gold less competitive against interest-bearing investments.
At the MCX, gold futures for February 2017 contract ended at Rs 28065 per 10 grams, up by 0.64 per cent, after opening at Rs 27,915 against a previous close of Rs 27,887. It touched the intra-day high of Rs 28,080.
0 comments:
Post a Comment