Gold Up As Demand For Risky Assets Wanes

Gold futures closed higher in the domestic market on Monday as demand for assets perceived as risky waned, and the dollar dropped in the wake of GOP leaders’ failure to repeal and replace Obamacare.
Gold benefited from the GOP health-care reform failure and subsequent greenback weakness.

At the MCX, gold futures for April 2017 contract ended at Rs 28800 per 10 grams, up by 0.02 per cent, after opening at Rs 28,762 against a previous close of Rs 28,793. It touched the intra-day high of Rs 28,938.

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Suhani Verma

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