Gold dips as US dollar stabilizes 22/05/2017

Gold dips as US dollar stabilizes
22/05/2017

Gold futures closed lower in the domestic market on Friday after stocks and the U.S. dollar stabilized even as political uncertainty continued to surround the White House. A pickup in demand for assets perceived as risky and a stronger dollar tend to be a headwind to gains for precious metals like gold. At the MCX, gold futures for June 2017 contract ended at Rs 28644 per 10 grams, down by 0.21 per cent, after opening at Rs 28,647 against a previous close of Rs 28,705. It touched the intra-day low of Rs 28,530.

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