Gold Down On Strengthening Dollar

Gold futures closed lower in the domestic market on Tuesday as the dollar strengthened and as investors favored assets perceived as risky over so-called havens.

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.

At the MCX, gold futures for August 2017 contract ended at Rs 28517 per 10 grams, down by 0.09 per cent, after opening at Rs 28,533 against a previous close of Rs 28,542. It touched the intra-day low of Rs 28,487.

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Suhani Verma

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