Gold Dips Ahead of Fed Midweek Policy Update

Posted By: Religare
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Gold futures closed lower in the international market on Tuesday ahead of a midweek policy update from the Federal Reserve.

Gold Dips Ahead of Fed Midweek Policy Update

Gold typically has an inverse relationship with the dollar as moves in the U.S. unit can influence the attractiveness of those commodities to holders of other currencies.

Higher rates tend to push the dollar higher, nicking gold prices, and cut demand for precious metals, which don't offer a yield.

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