Gold Dips As Markets Eye Fed Outcome

Gold futures closed lower in the domestic market on as this week’s focus now turns squarely on the Federal Reserve.

The Fed’s two-day meeting will wrap up Wednesday, where a dollar-supportive rate increase is widely expected, but not guaranteed. Higher interest rates are typically a negative for gold, because it enhances the appeal of yield-bearing assets; gold doesn’t offer a yield.

At the MCX, gold futures for August 2017 contract ended at Rs 28995 per 10 grams, down by 0.08 per cent, after opening at Rs 28,951 against a previous close of Rs 29,019. It touched the intra-day low of Rs 28,930.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
SHARE

Suhani Verma

  • Image
  • Image
  • Image
    Blogger Comment
    Facebook Comment

0 comments: