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Gold Down On Rate Hike Worries

By Religare

Gold futures closed lower in the domestic market on Monday as the strong likelihood of the Fed raising U.S. interest rates this year pressured gold. Gold and the dollar often move inversely as a richer dollar dulls the appeal of investors using other currencies.

Gold Down On Rate Hike Worries

At the MCX, gold futures for April 2017 contract ended at Rs 29296 per 10 grams, down by 0.22 per cent, after opening at Rs 29,251 against a previous close of Rs 29,360. It touched the intra-day low of Rs 29,195.

Read more about: gold mcx us dollar
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