Yellow metal little changed on Trump worries

Yellow metal little changed on Trump worries

22/03/2017 14:04

Gold futures were little changed during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the precious metal as safe-haven assets become attractive for investors against risky assets amid weakness in the US dollar, and as equities dropped on doubts about US President Trump’s economic agenda.

Asian equities posted their biggest drop in 2 weeks on Wednesday as growing doubts about President Trump’s economic growth agenda prompted investors to dump risky assets.

At the MCX, gold futures for April 2017 contract is trading at Rs 28860 per 10 grams, up by 0.03 per cent, after opening at Rs 28811, against a previous close of Rs 28851. It touched the intra-day high of Rs 28917 (at 13:57 hours).

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