Gold Steady As Dollar Rally Pauses

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Gold prices in the international markets were ruling steady, as the dollar rally paused and emerging markets currency saw some respite.

Gold Steady As Dollar Rally Pauses
Spot gold in the international markets was trading at $1222 an ounce, while immediately after the US Presidential elections the precious metal had hit a high of $1290 in trade.

In the domestic markets, gold for 22 karats was seen trading at Rs 29,400 per 10 grams in the city of Mumbai. Spot gold in the futures market on the MCX was trading at the same levels.

Gold has seen a dramatic fall in the last 1-week, in which the precious metal had also touched a 5-month low. This is after Donald Trump's election which fuelled a rally in the dollar and hence a drop in the precious metal.

Check gold rates in Indian cities here

Read more about: gold
Story first published: Wednesday, November 16, 2016, 13:47 [IST]
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