Gold Up on Falling Dollar

Posted By: Religare
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Gold futures closed higher in the international market on Wednesday but pulled back in electronic trading in the US after a statement from U.S. Federal Reserve pointed to one more interest-rate hike this year.

Gold Up on Falling Dollar

Prices for the yellow metal had gained for the session as the dollar dipped and U.S. equities paused their run to fresh records. But the greenback strengthened, putting pressure on dollar-denominated gold in the wake of the Fed's statement, which came after gold futures prices settled for the session.

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