Gold futures in MCX have opened higher tracking overnight gains in their overseas counterparts. International spot gold price rose above $900 a Troy ounce yesterday, as its appeal as an inflation hedge was boosted by oil’s rally to new record highs a
Gold price rose above $900 a Troy ounce on Friday, as its appeal as an inflation hedge was boosted by oil’s rally to new record highs and weakness of the dollar.
The dollar fell against the euro on Friday as an unexpected sharp drop in US consumer sentiment index to a 28-year low in May diminished the view of an interest rate hike this year.
Sterling rose against the dollar on Friday supported by weakness of the counterpart due to an unexpectedly sharp drop in US consumer sentiment index to a 28-year low in May.
