Gold dips on rising US dollar 04/05/2017

Gold dips on rising US dollar
04/05/2017

Gold futures closed lower in the domestic market on Wednesday as the U.S. dollar strengthened against currency rivals following the Federal Reserve’s monetary policy statement.The central bank on Wednesday, after prices for metals futures settled for the session, kept interest rates unchanged, as expected, and signaled that it’s still on track to raise rates at a gradual pace.At the MCX, gold futures for June 2017 contract ended at Rs 28490 per 10 grams, down by 0.32 per cent, after opening at Rs 28,572 against a previous close of Rs 28,582. It touched the intra-day low of Rs 28,405.

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