Gold Prices Declined Marginally By 0.31 Percent

Gold prices declined marginally by 0.31 percent on Tuesday to close at $1262.7 per ounce prices eased after hitting a one month high as economic data from the United States showed increased signs that the Federal Reserve would raise interest rates next month.

U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand that could allow the Federal Reserve to raise interest rates next month.On the MCX, gold prices declined by 0.55 percent to close at Rs.28741 per 10 gms.

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Suhani Verma

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