A weaker greenback makes dollar-denominated gold less expensive for holders of other currencies, while the metal is also used as an alternative investment during times of political and financial uncertainty.
Symbol: GOLD| Contract: Aug, 2017| Category: Bullion
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Gold's Latest News
The European Central Bank is expected to lay the groundwork for an autumn policy shift when it meets on Thursday, emphasising improved growth while tempering expectations after previously setting off a mini tantrum in financial markets.
The metal for delivery in August contract was also trading higher by Rs 121, or 0.43 per cent, at Rs 28,117 per ten gram in a turnover of 8,854 lots.
The U.S. dollar was near a 10-month low against a basket of major currencies on Tuesday, pressured by uncertainty over the pace of the Federal Reserve's policy tightening.
Silver advanced by Rs 180 to Rs 38,180 per kg, riding on increased offtake by industrial units and coin makers, along with a firm trend.
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