RTRS: India gold futures lower on international cues
MUMBAI, June 23 (Reuters) - India gold futures edged lower on Tuesday, taking a cue from overseas gold prices which fell to a six-week low, analysts said.
International gold prices fell to a six-week low on Tuesday, with the dollar's rise sapping demand as investors waited to see the outcome of the Federal Reserve's two-day policy meeting, which starts later in the day, and its economic outlook. See [nT95303]
"This bearishness may continue...everyone is waiting for the Fed meeting decisions," said an analyst with Ventura Commodities Pvt Ltd.
A globally strong dollar weighs on the precious metal's price as much of the country's gold is imported and paid for in the U.S. currency. A strong dollar may also dampen its attraction as an alternative investment.
Following are gold prices in rupees per 10 grams on the Multi Commodity Exchange of India Ltd. at 10:56 a.m. <0#MAU:>:
