Gold Dips on Strong Dollar

Posted By: Religare
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Gold futures closed lower in the domestic market on Tuesday as strength in the U.S. dollar pressured the precious metal into giving back all of the previous session's gains.

Gold Dips on Strong Dollar

The decline for prices comes just a day after gold settled higher boosted by investor demand for the perceived safety of the precious metal as the war of words between the U.S. and North Korea continued to rage.

At the MCX, gold futures for October 2017 contract ended at Rs 29101 per 10 grams, down by 0.62 per cent, after opening at Rs 29,238 against a previous close of Rs 29,283. It touched the intra-day low of Rs 29,036.

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