23:49
Unknown
Gold edged up on Thursday as the dollar and stock markets retreated, locking in the metal’s biggest quarterly gain in nearly 30 years amid reduced expectations for US interest rate hikes.
The metal is highly exposed to rising rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar. Gold fell 10 per cent last year ahead of the first US rate increase in nearly a decade in December.
Spot gold was up 0.6 per cent at $1,232.06 an ounce at by 2:55 p.m. EDT (1855 GMT). US gold futures settled up $7 an ounce at $1,235.60.
The dollar index slipped to a 5-1/2 month low earlier in the session, sending gold up as much as 1.2 per cent.
Silver was up 1.5 per cent at $15.42 an ounce, while platinum was 1.6 per cent higher at $975.22 an ounce after touching a one-week high of $982.99. Palladium was up 0.2 at $562.95 an ounce.
For more information ✆ – 0731-6642300 or Visit http://ift.tt/1k8NnLH
Posted in: Indian Market Tips
0 comments:
Post a Comment