Gold dips to lowest level over two months

Gold prices tumbled to hit their lowest level in over two months on Tuesday as investors resorted to the dollar amidst positive expectations over the US debt ceiling deal. Also, reduced estimates of a pause in a rate hike from the Federal Reserve in June policy weighed on non-yielding bullion. Due to a pullback in international prices, MCX gold futures traded range-bound to near ₹59,500 per 10 grams.

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