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Gold rises for third day on softer dollar

01 March 2023 09:31 (UTC +04:00)

Gold rate is trading flat on Wednesday despite positive global cues, while the silver rate is up 0.29%, APA-Economics reports citing Financial Express.

On Multi Commodity Exchange, gold April futures were trading at Rs 55,722 per 10 grams, down Rs 34 or 0.06%. Silver May futures were trading higher by Rs 186 at Rs 64,809 per kg on MCX.

Globally, the yellow metal prices edged up for a third session on Wednesday as the dollar pulled back, although fears of more U.S. interest rate hikes on the back of stubbornly high inflation kept a lid on prices, according to Reuters. Spot gold was up 0.1% at $1,829.37 per ounce. U.S. gold futures eased 0.1% to $1,835.30.