2 min read.Updated: 06 Jul 2022, 10:15 AM ISTLivemint
Global gold rates sank more than 2% on Tuesday amid a surge in US dollar
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Global gold prices found some respite today after slumping to lowest in more than six months on Tuesday, amid a rally in US dollar. The greenback surged to the highest in more than two years as investors retreated to the haven, putting pressure on bullion. Today gold prices recovered a bit, rising 0.4% to $1,770.71 per ounce. On Tuesday, gold fell 2.3% to $1,767.53 an ounce, the lowest since December in intraday trading. In India, the fall in bullion has been cushioned by the recent import duty hike.
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