MCX Gold Tips: Gold prices closed lower in the domestic market on Wednesday amid a flat dollar, ahead of the release of the minutes of the Federal Open Market Committee's September conference on Thursday afternoon. Investors await the release of the minutes from the Fed's September conference on Thursday for further hints on whether the US central bank could raise short-term interest rates before the closing of the year. A rate hike is viewed as bearish for Gold, which struggles to compete with high-yield demeanor assets in rising rate environments. The US Dollar Index, which measures the strength of the greenback V/S a basket of six other major currencies, inched up. Dollar-denominated commodities such as gold become more expensive for global purchasers when the dollar appreciates. At the MCX, Gold futures for October 2015 contract closed at Rs 26,555 per 10 gram, down by 0.25 per cent after opening at Rs 26,700, against the previous closing price of Rs 26,621. It touched the intra-day low of Rs 26,416.
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