Gold Rises As US Dollar Declines

Gold futures closed higher in the domestic market on Monday as declines in the U.S. dollar index sent prices to the highest finish in three weeks.

The greenback continues to come under pressure amid continuing political controversy around the Trump administration. However, this is unlikely to deter the Federal Open Market Committee from hiking rates when it meets.

At the MCX, gold futures for June 2017 contract ended at Rs 28781 per 10 grams, up by 0.51 per cent, after opening at Rs 28,593 against a previous close of Rs 28,635. It touched the intra-day high of Rs 28,800.

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Suhani Verma

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