Gold flat on declining US equities 12/05/2017

Gold flat on declining US equities
12/05/2017

Gold futures closed flat in the domestic market on Thursday as the U.S. dollar took a break from recent strength and U.S. and European equities declined.
The pause in the greenback’s rally, as well as declines in the stock market helped to make gold more attractive to investors. Precious metals prices rebounded following the recent bearish run.
At the MCX, gold futures for June 2017 contract ended at Rs 27987 per 10 grams, down by 0.03 per cent, after opening at Rs 27,984 against a previous close of Rs 27,996. It touched the intra-day high of Rs 28,093.

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