Gold Dips As Dollar Strengthens

Gold futures closed lower in the domestic market on Wednesday as the dollar clawed its way up from the three-week low reached Tuesday.

Still, tensions over North Korea and looming French and U.K. elections that hold implications for the European economy have provided haven investor demand for precious metals in recent days. Gold prices scored a fifth straight session gain on Tuesday to settle at their highest level since early November.

At the MCX, gold futures for June 2017 contract ended at Rs 29271 per 10 grams, down by 0.82 per cent, after opening at Rs 29,414 against a previous close of Rs 29,514. It touched the intra-day low of Rs 29,201.
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Suhani Verma

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