Gold futures closed lower in the domestic market on Wednesday swinging between gains and losses as traders contrasted the commodity’s finish at a three-week high on Wednesday against the latest batch of economic data and its implications on the timing of future rate hikes. On Wednesday, the US dollar also stabilized and this discouraged further purchases of gold by investors.
At the MCX, Gold futures for October 2016 contract closed at Rs 31,315, per 10 gram, down by 0.20 per cent after opening at Rs 31,440, against the previous closing price of Rs 31,378. It touched the intra-day low of Rs 31,250.
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