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Gold futures closed higher in the domestic market on Friday as investors and speculators extended their positions in the precious metal as safe-haven demand increased on weaker US dollar after Fed kept interest rates steady. The greenback turned weaker, against a basket of other currencies, after US Federal Reserve kept the interest rates unchanged in its first meeting on Wednesday since President Trump took office. At the MCX, gold futures for February 2017 contract ended at Rs 29030 per 10 grams, up by 0.17 per cent, after opening at Rs 29,025 against a previous close of Rs 28,981. It touched the intra-day high of Rs 29,099.
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Gold futures closed higher in the domestic market on Friday as investors and speculators extended their positions in the precious metal as safe-haven demand increased on weaker US dollar after Fed kept interest rates steady. The greenback turned weaker, against a basket of other currencies, after US Federal Reserve kept the interest rates unchanged in its first meeting on Wednesday since President Trump took office. At the MCX, gold futures for February 2017 contract ended at Rs 29030 per 10 grams, up by 0.17 per cent, after opening at Rs 29,025 against a previous close of Rs 28,981. It touched the intra-day high of Rs 29,099.
