Gold prices fell in futures trade today owing to muted spot demand and lacklustre global cues.
However, a weaker rupee and lower equities offset the fall.
The precious metal came off its two-week highs to trade lower in global markets owing to profit booking.
The dollar index was lower by 0.2% vs. major currencies on Thursday after rising to a one-week high in the previous session on robust US retail sales, however, edged lower as Treasury yields fell on weak US housing market data and concerns regarding the US-China trade war.
Further, the Fed is also expected to cut interest rates by 25bps at the end of the month.
A weak dollar causes a fall in gold prices.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.48% to 803.18 tonnes on Wednesday from 799.37 tonnes on Tuesday, as per Reuters.
However, a weaker rupee and lower equities offset the fall.
The precious metal came off its two-week highs to trade lower in global markets owing to profit booking.
The dollar index was lower by 0.2% vs. major currencies on Thursday after rising to a one-week high in the previous session on robust US retail sales, however, edged lower as Treasury yields fell on weak US housing market data and concerns regarding the US-China trade war.
Further, the Fed is also expected to cut interest rates by 25bps at the end of the month.
A weak dollar causes a fall in gold prices.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.48% to 803.18 tonnes on Wednesday from 799.37 tonnes on Tuesday, as per Reuters.
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