Gold Up on Weak Dollar

Higher interest rates tend to boost the dollar, but as the tightening had been well telegraphed by Fed Chairwoman Janet Yellen.

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Gold futures closed higher in the international market on Thursday on the heels of the dollar's decline, which came after the U.S. Federal Reserve raised interest rates, but struck a less hawkish tone than expected.

Gold Up on Weak Dollar

Higher interest rates tend to boost the dollar, but as the tightening had been well telegraphed by Fed Chairwoman Janet Yellen, the rate increase had been almost 100% priced in.

Read more about: gold, us dollar
Story first published: Friday, March 17, 2017, 13:00 [IST]
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