Gold Glitters On Euro Strength After Macron’s Win In France

Gold futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the precious metal on safe-haven demand and as the euro strengthened after the expected win of pro-EU candidate Emmanuel Macron in the French presidential election.

Besides, US job growth rebounded sharply in April and the unemployment rate dropped to 4.4 per cent, nearly 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate hike in June despite moderate wage growth.

At the MCX, gold futures for June 2017 contract is trading at Rs 28120 per 10 grams, up by 0.17 per cent, after opening at Rs 28118, against a previous close of Rs 28072. It touched the intra-day high of Rs 28132 (at 13:35 hours).

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