Gold glitters as dollar hurt on Trump’s healthcare defeat

Gold glitters as dollar hurt on Trump’s healthcare defeat

27/03/2017 14:40

Gold futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the precious metal buoyed by safe-haven demand on weakness in the US dollar as traders weighed down US President Trump’s defeat over passing healthcare reform, raised doubts over his ability to push through his economic agenda.

Trump suffered a major setback after his own Republican party pulled legislation to overhaul the US healthcare system.

At the MCX, gold futures for April 2017 contract is trading at Rs 28890 per 10 grams, up by 0.34 per cent, after opening at Rs 28870, against a previous close of Rs 28793. It touched the intra-day high of Rs 28924 (at 14:26 hours).

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