Gold up on feeble US dollar

Gold futures closed higher in the international market on Tuesday.

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Gold futures closed higher in the international market on Tuesday as investors and speculators extended their positions in the precious metal as safe-haven demand increased on weaker US dollar after Fed kept interest rates steady.

Gold up on feeble US dollar

The metal has been benefiting from a retreat by the dollar, as a weaker buck makes dollar-denominated commodities less expensive for holders of other currencies.

Read more about: gold, us dollar
Story first published: Wednesday, February 8, 2017, 12:50 [IST]
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