Gold Marginally Lower In Trade As Dollar Rises

Gold futures were trading lower in the international market on Tuesday on the back of a stronger U.S. dollar.

The British pound took a hit on Monday from news that the U.K. aimed for a clear break from the European Union and data on U.S. manufacturing was somewhat upbeat, helping to support the greenback-weighing on prices for gold, which is traded in the dollar.

Spot gold for 22 karats in Mumbai was trading near the Rs 30,700 mark, while 24 karats was hovering near the Rs 32,500 mark.

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Much of the movement of gold would depend on global cues, particularly related to Deutsche Bank. Any adverse news on that front, could see fresh buying in gold.

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