Gold Down on Strengthening Dollar

Posted By: Religare
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Gold futures closed lower in the international market on Thursday as the dollar's decline against the euro lifted a key benchmark for the greenback to a three-month high.

Gold Down on Strengthening Dollar

The dollar's strength dulled demand for precious metals, as a firmer dollar makes them less attractive to investors using another currency.

Analysts also attributed the greenback's recent strength to bets that the U.S. Federal Reserve's next leader will pick up the pace of interest-rate hikes or at least stay the course with plans for gradual rate increases late this year and next.

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