Gold On MCX Settled Up 0.32% At 30573 As The U.S. Dollar Surrendered - Dollar Advisory | Best Commodity Tips Provider

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Friday 23 February 2018

Gold On MCX Settled Up 0.32% At 30573 As The U.S. Dollar Surrendered

Gold on MCX settled up 0.32% at 30573 as the U.S. dollar surrendered early gains after prices seen pressure boosted by minutes from Fed. 

With markets looking past Wednesday's hawkish FOMC meeting minutes, a modest US Dollar retracement was seen lending some support to gold. 

Adding to this, the prevalent risk-off environment, as depicted by a sea of red across European equity markets provide an additional boost to the precious metal's safe-haven appeal.

The global risk aversion was further reinforced by sliding US Treasury bond yields, which was further seen benefitting the non-yielding yellow metal. 

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