Breaking News

You are here » Indian-Commodity  :  Commodities  :  Gold, Silver & Bullion  :  Gold futures end higher on weaker dollar

18-Apr2017

Gold futures end higher on weaker dollar

Gold futures ended higher on Monday as the dollar slipped against a basket of major currencies on the back of tensions between the US and North Korea, helping the precious metal to hold ground at its highest level in more than five months. Meanwhile, downbeat US manufacturing data also boosted gold's appeal. The New York Fed reported that its general business conditions index tumbled to 5.2 in April after dipping to 16.4 in March, although a positive reading still indicates growth. Economists had expected the index to edge down to 15.0. The bigger than expected drop by the headline index came amid a notable slowdown in new orders growth, as the new orders index plunged to 7.0 in April after jumping to a multi-year high of 21.3 in March.

Gold futures for June delivery gained $3.40 or 0.3 percent, to settle at $1,291.90 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.05 percent at $1,285.86 an ounce.



Related News

View all news

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Gold futures edge higher on MCX

Gold futures edged higher on MCX as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for......

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......