Gold Up As US Dollar Tries To End Decline

Posted By: Religare
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Gold futures closed higher in the international market on Tuesday even as a closely watched U.S. dollar index tried to end its streak of declines.

Gold Up As US Dollar Tries To End Decline

Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies. Gold has remained relatively strong against the backdrop of three U.S. interest-rate hikes in 2017, but could suffer if tightening continues, and especially if the pace picks up in 2018.

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