Gold Updates - Gold prices closed marginally higher in the domestic market on Wednesday and holding on to gains in the aftermath of the first interest rate Higher from the US Federal Reserve since 2006. The US central bank's policy-setting committee the range of its benchmark interest rate by a quarter of a percentage point, ending a lengthy debate about whether the economy was tuff enough to withstand higher borrowing costs. However, a stronger dollar reduced the appeal of gold as an Alternate asset. Stronger greenback makes the bullion expensive for those holding other currencies, thus reducing demand. At the MCX, Gold futures for February 2016 contract closed at Rs 25,468 per 10 gram, up by 0.32 per cent after Starting at Rs 25,307, against the closing price of Rs 25,266. It touched the intra-day high of Rs 25,498.
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