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Gold futures closed higher in the domestic market on Tuesday on the back of a retreat in U.S. stocks and weakness in the dollar. Gold prices gained for the first time in five trading sessions, as signs of growing inflation and a steep decline in U.S. equities, in part due to uncertainty around U.S.-global relations after President Donald Trump ordered an immigration ban, which helped to raise at least short-term investment demand in the precious metal. At the MCX, gold futures for February 2017 contract ended at Rs 28985 per 10 grams, up by 1.62 per cent, after opening at Rs 28,570 against a previous close of Rs 28,524. It touched the intra-day high of Rs 28,990.
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Gold futures closed higher in the domestic market on Tuesday on the back of a retreat in U.S. stocks and weakness in the dollar. Gold prices gained for the first time in five trading sessions, as signs of growing inflation and a steep decline in U.S. equities, in part due to uncertainty around U.S.-global relations after President Donald Trump ordered an immigration ban, which helped to raise at least short-term investment demand in the precious metal. At the MCX, gold futures for February 2017 contract ended at Rs 28985 per 10 grams, up by 1.62 per cent, after opening at Rs 28,570 against a previous close of Rs 28,524. It touched the intra-day high of Rs 28,990.
