Gold futures closed lower in the domestic market on Tuesday ahead of a widely-expected Federal Reserve interest-rate hike this week.
Expectations for the increase have already rallied the dollar and depressed metals prices, which suffered from a nine-session decline to their lowest level since late January, before Monday’s modest rise.
At the MCX, gold futures for April 2017 contract ended at Rs 28085 per 10 grams, down by 0.59 per cent, after opening at Rs 28,250 against a previous close of Rs 28,251. It touched the intra-day low of Rs 28,055.
Expectations for the increase have already rallied the dollar and depressed metals prices, which suffered from a nine-session decline to their lowest level since late January, before Monday’s modest rise.
At the MCX, gold futures for April 2017 contract ended at Rs 28085 per 10 grams, down by 0.59 per cent, after opening at Rs 28,250 against a previous close of Rs 28,251. It touched the intra-day low of Rs 28,055.
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