On Weak Dollar Gold Rebounds To High Of Rs. 32330/10gm

Weak dollar which touched a three-year low on the back of support from the US govt of the direction of the greenback has made the gold rally to one and a half year high as per the Reuters report.

The dollar index which measures the direction of greenback against most of the other global currencies has fallen in trade to its lowest level last seen in 2014.

Spot gold has touched a high of $1361.1 per ounce rising by 0.2%. US gold futures were also up at $1,360.60 per ounce.

The dollar fall further after a sentiment in the Davos conference that a weaker dollar entertains more of trade and opportunities.

In India, gold was trading higher at Rs.32330.40 per 10 gram.

The upcoming wedding season and the global sentiment has moved gold prices in India higher which tracks the global prices in its price determination in the domestic markets.

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