Gold rises on global political tension
10/08/2017
Gold futures closed higher in the domestic market on Wednesday amid a war of words between the U.S. and North Korea. North Korea’s recent threat to launch a missile strike at U.S. territory Guam has helped to elevate haven buying in global financial markets. Doubts about the pace of economic growth in the U.S., including signs of weaker-than-hoped-for inflation, have weighed on the dollar over the past few weeks, and provided some support for metals. At the MCX, gold futures for October 2017 contract ended at Rs 28855 per 10 grams, up by 1.68 per cent, after opening at Rs 28,520 against a previous close of Rs 28,379. It touched the intra-day high of Rs 28,865.
10/08/2017
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Gold futures closed higher in the domestic market on Wednesday amid a war of words between the U.S. and North Korea. North Korea’s recent threat to launch a missile strike at U.S. territory Guam has helped to elevate haven buying in global financial markets. Doubts about the pace of economic growth in the U.S., including signs of weaker-than-hoped-for inflation, have weighed on the dollar over the past few weeks, and provided some support for metals. At the MCX, gold futures for October 2017 contract ended at Rs 28855 per 10 grams, up by 1.68 per cent, after opening at Rs 28,520 against a previous close of Rs 28,379. It touched the intra-day high of Rs 28,865.
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