Yellow Metal Little Changed On Firm Dollar

Gold futures were little changed during noon trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the precious metal as safe-haven demand faded on firmer greenback against a basket of other currencies owing to US Federal Reserve’s plan to stick to hiking rates.

However, risk aversion due to Brexit, concerns over US President Trump's ability to carry out financial reforms, Europe election results and Middle East turmoil, capped further fall in precious metal prices.

At the MCX, gold futures for August 2017 contract is trading at Rs 28537 per 10 grams, down by 0.02 per cent, after opening at Rs 28533, against a previous close of Rs 28542. It touched the intra-day low of Rs 28508.

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Suhani Verma

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