Gold Down on Robust US Dollar

Posted By: Religare
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Gold futures closed lower in the international market on Thursday after the U.S. dollar touched its highest levels since January on the back of increased suggestions from Federal Reserve officials fora near-term interest-rate hike.

Gold Down on Robust US Dollar

Higher rates can diminish demand for assets like gold which don't offer a yield. But rate increases can also deliver a fillip to the U.S. dollar, making commodities priced in the currency less appealing to buyers using other monetary units.

Read more about: gold, us dollar
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