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Gold futures closed lower in the domestic market on Friday as strength in the dollar and recent all-time highs in major U.S. stock indexes dulled demand for so-called haven investments. U.S. stocks paused their run, which helped to limit precious metals’ downside Friday. Treasury yields extended their losses in the wake of weaker-than-expected U.S. economic data, also providing some support for nonyielding gold. At the MCX, gold futures for February 2017 contract ended at Rs 28355 per 10 grams, down by 0.11 per cent, after opening at Rs 28,250 against a previous close of Rs 28,385. It touched the intra-day low of Rs 28,085.
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Gold futures closed lower in the domestic market on Friday as strength in the dollar and recent all-time highs in major U.S. stock indexes dulled demand for so-called haven investments. U.S. stocks paused their run, which helped to limit precious metals’ downside Friday. Treasury yields extended their losses in the wake of weaker-than-expected U.S. economic data, also providing some support for nonyielding gold. At the MCX, gold futures for February 2017 contract ended at Rs 28355 per 10 grams, down by 0.11 per cent, after opening at Rs 28,250 against a previous close of Rs 28,385. It touched the intra-day low of Rs 28,085.
