Gold Dips On Strengthening Dollar

Gold futures closed lower in the domestic market on Wednesday as the dollar eased, boosting the appeal of haven investments.

Gold has been plagued by a downbeat tone in the wake of recent signals from the Federal Reserve for at least one more increase to interest rates this year. Economic and interest-rate policy uncertainty will continue to hold sway over metals and currency trading.

At the MCX, gold futures for August 2017 contract ended at Rs 28580 per 10 grams, up by 0.19 per cent, after opening at Rs 28,590 against a previous close of Rs 28,526. It touched the intra-day high of Rs 28,634.

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Suhani Verma

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