Gold Rises On 2 Soft US Economic Reports

Gold futures closed higher in the domestic market on Wednesday on two soft economic reports, one covering weakening consumer prices and the other a drop in retail spending. Gold, however, didn’t react in the wake of reports of a Washington, D.C.-area shooting that wounded House Majority Whip Steve Scalise and others.

At the MCX, gold futures for August 2017 contract ended at Rs 29018 per 10 grams, up by 0.26 per cent, after opening at Rs 29,050 against a previous close of Rs 28,944. It touched the intra-day high of Rs 29,087.

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Suhani Verma

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