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Gold Up on Firm Global Cues

Gold Up on Firm Global Cues

Gold futures ended bigger in the domestic market on Monday as they staged a modest rebound after suffering their largest weekly decline since middle of July. Strength in the dollar kept gains for the metal in check, with traders eyeing the monthly U.S. jobs report due at the end of the week as the next major catalyst in the effort to solidify their expectations for the Federal Reserve’s monetary policy path.

At the MCX, Gold futures for October 2016 contract ended at Rs 31,077/10 gram, upward by 0.28% after opening at Rs 30,940, against the last ending price of Rs 30,990. It touched the intra-day maximum of Rs 31,093.

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