Gold firm on weaker dollar, fall in equities
Gold prices were firm during Friday’s trade, supported by weak dollar and falling equities even as remarks from global central banks suggested monetary tightening in Europe and England.
Spot gold was nearly flat at USD 1,245.08 per ounce at 0104 GMT. For the quarter, gold is down 0.3 %.
US gold futures for August delivery fell 0.1% to USD 1,245.10 per ounce.
Dollar extended its losses on Friday’s trade as remarks by global central banks indicated that the era of cheap money was coming to an end in a boon to sterling, the euro and Canadian dollar.
In India, gold premiums soared to the highest level in seven-and-half months this week as consumers advanced purchased ahead of Goods & Services Tax launch on July 1, 2017.
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Via:: Stock – India Infoline