Gold Prices Up In Asia On Hopes For Physical Demand From India
Wednesday,
18-Oct-2017
09:26 AM (IST)
Gold prices rose in Asia on Wednesday with hopes for physical demand in India with the festival season well underway and as investors eye political risks broadly along with a weaker dollar.Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.28% to $1,298.83 a troy ounce.Overnight, gold prices fell on Tuesday following a sharp rise in the dollar on better-than-expected economic data and growing speculation that the next head of the Federal Reserve will favour a more aggressive stance on monetary policy.Gold prices continued to fall below a key $1,300 level after the dollar spiked on signs that the U.S. economy is on track for a solid quarter of economic growth.
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