Gold Down on Strong US Dollar

Posted By: Religare
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Gold futures closed lower in the international market on Wednesday as a stronger dollar and upbeat U.S. economic data prompted prices to snap a three-session streak of gains.

Gold Down on Strong US Dollar

The yellow metal had logged gains in each of the last three sessions as North Korean jitters and the still unfolding record-setting impact from Hurricane Harvey drove investors into haven assets, but two upbeat economic reports Wednesday were seen as potentially giving the Federal Reserve cover to raise interest rates again this year.

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