Gold loses sheen during noon trade

gold

In the domestic market on Thursday, Gold futures were trading low during afternoon trade as investors and speculators exited their positions in the precious metal after the US Federal Reserve hiked interest rates by 25 basis points but was less dovish than expected following a two-day meeting.

Gold futures for August 2017 contract is trading at Rs 28806 per 10 grams, down by 0.77 %, after opening at Rs 28950, against a previous close of Rs 29030. It touched the intra-day low of Rs 28773.

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