Gold set for streak of 3rd week gains as US dollar gets weaker

India Infoline News Service | Mumbai | February 17, 2017 15:58 IST

As the dollar is close to its one week low, gold prices have been stable maintaining its gains amid the political instabilities in America & Europe.

As the dollar is close to its one week low, gold prices have been stable maintaining its gains amid the political instabilities in America & Europe.
 
US gold futures were down 0.2% at $1239, whereas gold was stable at $1238.16.
 
Concerns over Donald Trump’s policies, followed by elections in France, Germany and Netherlands propelled gold to touch its peak at $ 1244.67, on February 8.
 
The dollar index touched a one week low of 100.410 on Thursday. The index which measures the greenback against a basket of currencies on Friday was at 100.490.


Holdings of SPDR Gold, which is the world's largest gold-backed exchange-traded fund, have surged by 5.6% so far this month, which is the highest since June 2016.
 
Platinum jumped up 0.1% to $1,013.20; and spot silver slipped 0.2% to $18.06 an ounce.

Palladium dipped 0.6% to $ 787.45.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Ltd., does not guarantee the accuracy, completeness or reliability of information contained herein and shall not be held responsible.

 

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