Today dollar – which had fallen initially – was up 0.2 per cent against a basket of currencies, after US data showed an uptick in underlying inflation pressures and gains in home prices.
Touching the upper level of the international market after nearly two weeks, the pressure seems to gold. MCX gold with 0.30 per cent of weakness in the domestic market, it is trading around Rs 26,275.
At MCX June futures contract was trading at Rs 26,436 down Rs 106, or 0.40 percent. Gold touched an intraday high of Rs 26469 and an intraday low of Rs 26431. So far 140 contracts have been traded on the Multi Commodity Exchange.
Besides, at global market Gold prices rose, on growing expectations that a US interest rate increase could be pushed to September.
Spot gold climbed to its highest level since March 6 at $1,195.30 an ounce. While, US gold futures for April delivery rose $3.70, or 0.3 per cent, to settle at $1,187.70 an ounce.
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