Gold Dips on Modest Strength in Dollar

Posted By: Religare
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Gold futures closed lower in the international market on Wednesday pressured by modest strength in the U.S.Dollar so far this week.

Gold Dips on Modest Strength in Dollar

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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