Gold down on firm dollar

Gold futures closed lower in the international market on Wednesday as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.

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Gold futures closed lower in the international market on Wednesday as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.

Gold down on firm dollar

A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Read more about: gold, dollar, currency, commodities
Story first published: Thursday, December 22, 2016, 12:30 [IST]
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