Gold dips on firm dollar
22/08/2016 09:03
Gold futures closed lower in the domestic market on Friday paring their gain for the latest week as the guesswork around the Federal Reserve’s next interest-rate move continued. The U.S. dollar, after tapping a seven-week low this week, strengthened Friday, cutting demand for precious metals, which are priced in the currency. At the MCX, Gold futures for October 2016 contract closed at Rs 31,415, per 10 gram, down by 0.20 per cent after opening at Rs 31,411, against the previous closing price of Rs 31,478. It touched the intra-day low of Rs 31,300.
