Gold Up on Weak US Dollar

Posted By: Religare
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Gold futures closed higher in the international market on Wednesday as the U.S. dollar weakened slightly, offering a lift to the yellow metal.

Gold Up on Weak US Dollar

Gold, which is priced in dollars, is highly sensitive to moves in its exchange rate. The two assets typically move inversely. And stock gains tend to, but don't always, lure investors away from haven gold.

The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday.

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