Gold flat on upside in equity
13/09/2017
Gold futures closed flat in the domestic market on Tuesday as a prevailing tide of investors continued to take their chances on further upside in equities, snubbing haven assets.The weaker-than-expected storm and ebbing worries over North Korea helped boost global equities, with U.S. stocks trading broadly higher Tuesday.The Fed raised interest rates twice this year in response to steady growth and falling unemployment, but persistently soft inflation data have tempered market expectations for another hike before the year. Higher rates also boost the dollar, in which gold is priced.At the MCX, gold futures for October 2017 contract ended at Rs 29935 per 10 grams, up by 0.01 per cent, after opening at Rs 29,911 against a previous close of Rs 29,933. It touched the intra-day low of Rs 29,820.
13/09/2017
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