Gold Rises On Weak US Dollar

Gold futures closed higher in the domestic market on Tuesday as a drop in the dollar and a decline in the U.S. stock market brightened investment interest in the metal. A weaker dollar makes dollar-priced gold and silver more attractive to overseas buyers.

At the MCX, Gold futures for October 2016 contract closed at Rs 31,458, per 10 gram, up by 0.77 per cent after opening at Rs 31,250, against the previous closing price of Rs 31,219. It touched the intra-day high of Rs 31,568.

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Suhani Verma

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