Gold Down on Strong US Dollar

Posted By: Religare
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Gold futures closed lower in the international market on Tuesday as the U.S. dollar strengthened on the back upbeat comments from Federal Reserve Chairwoman Janet Yellen on the nation's economy.
Gold Down on Strong US Dollar

In testimony to the Senate Banking Committee, Yellen's comments about the strengthening of the labor market and that inflation is moving toward the Fed's target of 2% have essentially put the possibility of a March rate hike on the table.

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