Gold Rises On Weak US Dollar

Gold futures closed higher in the domestic market on Monday as a weaker dollar and losses in the U.S. stock market buoyed demand for the precious metal.

Financial markets, however, braced for volatility that could be stirred by the evening debate between Democratic presidential candidate Hillary Clinton and her Republican rival Donald Trump.

Investors also reassessed last week’s rise in gold to a two-week high on a boost from central-bank policy updates, including the Federal Reserve’s decision to hold off on hiking interest rates in September.

At the MCX, gold futures for October 2016 contract ended at Rs 31,333 per 10 grams, up by 0.17 per cent, after opening at Rs 31,236, against a previous close of Rs 31,281. It touched the intra-day high of Rs 31,350.

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Suhani Verma

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