Gold Rises On Declining US Dollar

Gold futures closed higher in the domestic market on Friday as the U.S. dollar took a break from recent strength. The pause in the greenback’s rally, as well as declines in the stock market helped to make gold more attractive to investors. Precious metals prices rebounded following the recent bearish run.

At the MCX, gold futures for June 2017 contract ended at Rs 28015 per 10 grams, up by 0.04 per cent, after opening at Rs 28,008 against a previous close of Rs 28,004. It touched the intra-day high of Rs 28,129.

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Suhani Verma

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