Gold Down on Robust US Manufacturing Data

Posted By: Religare
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Gold futures closed lower in the domestic market on Wednesday as data on retail sales and U.S. manufacturing came in better than expected and easing geopolitical tensions between North Korea and the U.S. undercut haven demand for the precious metal.

Gold Down on Robust US Manufacturing Data

Tensions between Pyongyang and Washington saw further cooling as North Korean leader Kim Jong Un announced that he wouldn't launch a ballistic-missile attack on the U.S. territory Guam.

At the MCX, gold futures for October 2017 contract ended at Rs 28948 per 10 grams, down by 0.45 per cent, after opening at Rs 28,950 against a previous close of Rs 29,080. It touched the intra-day low of Rs 28,800.

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