Gold Rises as Dollar Extends Decline

Posted By: Religare
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Gold futures closed higher in the international market on Wednesday as the dollar extended its decline, but strength in U.S. equities and Treasury yields served to cap the metal's upside.

Gold Rises as Dollar Extends Decline

The boost from a weaker currency was partly offset by gains in the U.S. stock market, which benefited from a rally in financial shares, as well as by rising Treasury yields.

Gold is likely to remain supported with the ongoing uncertainty of Brexit, political risk in Washington and jitters from depressed oil accelerating the flight to safety.

A weaker currency is seen boosting commodities priced in dollars, including gold, as it makes them cheaper to users of other currencies.

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