Gold Hits 5-month Lows As Dollar Gains

Gold prices hit a 5-month low in the international markets, as the dollar saw gains

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Gold prices hit a new 5-month low as the dollar strenghthened against a basket of currencies. Gold in the international market, was last seen trading at $1222 an ounce, from the earlier level of $1225 an ounce.

Gold Hits 5-month Lows As Dollar Gains
The rise in the dollar, against a basket of currencies, was largely responsible for gains in the price of gold.

In the domestic market, gold for 22 karats was seen trading at Rs 29,650 per 10 grams in Mumbai, with some cities, seeing marginal dip in prices.

Gold for 24 karats in the international markets, was seen trading Rs 31,500 per 10 grams. Gold in India would have dipped even more, however, the rupee lost ground against the US dollar on Friday, which kept prices at elevated levels. Check gold rates in Indian cities here

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