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Gold futures closed lower in the domestic market on Tuesday easing back after gains over the past two trading sessions lifted prices to their highest settlement in nearly 10 weeks on uncertainty for trade and economic policy under the Trump administration.
The U.S. dollar strengthened a bit, putting pressure on dollar-denominated prices for the yellow metal and an analyst warned that gold demand from China soon ease as the nation gears up to celebrate the Lunar New Year holiday this weekend.
At the MCX, gold futures for February 2017 contract ended at Rs 28725 per 10 grams, down by 0.27 per cent, after opening at Rs 28,801 against a previous close of Rs 28,803. It touched the intra-day low of Rs 28,700.
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The U.S. dollar strengthened a bit, putting pressure on dollar-denominated prices for the yellow metal and an analyst warned that gold demand from China soon ease as the nation gears up to celebrate the Lunar New Year holiday this weekend.
At the MCX, gold futures for February 2017 contract ended at Rs 28725 per 10 grams, down by 0.27 per cent, after opening at Rs 28,801 against a previous close of Rs 28,803. It touched the intra-day low of Rs 28,700.
