News Details

( 07 Nov 2017)
Gold up on surge in crude prices

Gold futures closed higher in the international market on Monday as a surge in prices of crude oil offered some signs of a potential increase in inflation, bullish for precious metals’ prices.

Gold is often viewed as a hedge against rising prices or inflation. Meanwhile, lower rates and a weaker dollar can lure buyers in gold, which doesn’t bear interest and is priced in the U.S. currency. Investors also focused on developments for tax reform as Senate Republicans work on their version of a bill after the House advanced their approach last week.