Gold On MCX Settled Up 0.24% At 31809 With Expectations

Gold on MCX settled up 0.24% at 31809 with expectations of cuts in U.S. interest rates boosted by inflation data for the first quarter.

Prices turned positive data showed U.S. first-quarter gross domestic product increased at a 3.1% annualized rate, slightly down from the 3.2% pace estimated last month.

The dollar index earlier climbed to a one-week peak and hovered within striking distance of a two-year high of 98.371 hit a week ago, as Sino-U.S. trade tensions prompted investors to seek refuge in the greenback and government bonds.

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