Gold Rises On Dipping Dollar

Gold futures closed higher in the domestic market on Tuesday as the dollar dropped and U.S. equities weakened, drawing investor attention to the precious metal.

Prices finished off the day’s best levels, however, losing ground as Federal Reserve Chairwoman Janet Yellen started speaking about global economic issues at an event in London in the minutes ahead of gold’s price settlement.

At the MCX, gold futures for August 2017 contract ended at Rs 28572 per 10 grams, up by 0.22 per cent, after opening at Rs 28,480 against a previous close of Rs 28,510. It touched the intra-day high of Rs 28,648.

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Suhani Verma

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