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Gold futures closed lower in the domestic market on Tuesday as the U.S. dollar strengthened on the back upbeat comments from Federal Reserve Chairwoman Janet Yellen on the nation’s economy. In testimony to the Senate Banking Committee, Yellen’s comments about the strengthening of the labor market and that inflation is moving toward the Fed’s target of 2% have essentially put the possibility of a March rate hike on the table. At the MCX, gold futures for April 2017 contract ended at Rs 29020 per 10 grams, down by 0.00 per cent, after opening at Rs 29,050 against a previous close of Rs 29,021. It touched the intra-day low of Rs 28,853.
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