Gold Rises on Weaker US Dollar

Posted By: Religare
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    Gold futures closed higher in the international market on Tuesday with a sharply weaker U.S. dollar sending prices for the yellow metal up for a third session in a row to their highest level of the month so far.

    Gold Rises on Weaker US Dollar

    The stumbles in getting the health-care bill passed have amplified doubts about President Donald Trump's ability to get passage of a raft of Wall Street-friendly legislations, including tax cuts and other laws that may boost the buck.

    A weaker dollar tends to be supportive to commodities, like gold, priced in the currency, making them more attractive to buyers using weaker monetary units.

    Read more about: gold
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