Wednesday, October 19, 2016

Yellow Metal up as US dollar eases in market

On Tuesday Gold futures closed high in the domestic market as strength in the British pound helped the U.S. dollar ease back from current multimonth highs.

Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

At the MCX, gold futures for December 2016 contract ended at Rs 29776 per 10 grams, upward by 0.24 %, after opening at Rs 29,750, against a previous close of Rs 29,705. It touched the intra-day higher of Rs 29,840.
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