Gold Up On Rising Geopolitical Tension

Gold futures closed higher in the domestic market on Thursday amid growing tensions in Asia centered on North Korea’s recent missile tests and the Middle East, where the U.S. launched a pinprick airstrike in Syria late Thursday and has hinted at the potential for more actions, have investors on edge, a factor supportive to gold prices rising. The US dollar took a hit after Donald Trump reiterated his concerns that the world’s reserve currency was “too strong”, and that the Federal Reserve should keep interest rates low. At the MCX, gold futures for June 2017 contract ended at Rs 29418 per 10 grams, up by 0.65 per cent, after opening at Rs 29,300 against a previous close of Rs 29,229. It touched the intra-day high of Rs 29,433.

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Suhani Verma

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