Gold dips as investors await Fed meet outcome : 26/09/2018
Gold dips as investors await Fed meet outcome
26/09/2018 07:30
Gold futures closed lower in the domestic market on Tuesday as investors awaited what’s widely expected to be the Federal Reserve’s third interest-rate hike of 2018 this week.
Fed policy makers will meet for a two-day meeting ending Wednesday and the market is pricing in over a 90% chance of a quarter-point rate increase. Higher interest rates tend to boost the dollar and cut demand for nonyielding bullion in favor of assets delivering an attractive relative yield.
At the MCX, gold futures for October 2018 contract ended at Rs 30800 per 10 grams, down by 0.14 per cent, after opening at Rs 30,797 against a previous close of Rs 30,842. It touched the intra-day low of Rs 30,730.
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Gold dips as investors await Fed meet outcome
26/09/2018 07:30
Gold futures closed lower in the domestic market on Tuesday as investors awaited what’s widely expected to be the Federal Reserve’s third interest-rate hike of 2018 this week.
Fed policy makers will meet for a two-day meeting ending Wednesday and the market is pricing in over a 90% chance of a quarter-point rate increase. Higher interest rates tend to boost the dollar and cut demand for nonyielding bullion in favor of assets delivering an attractive relative yield.
At the MCX, gold futures for October 2018 contract ended at Rs 30800 per 10 grams, down by 0.14 per cent, after opening at Rs 30,797 against a previous close of Rs 30,842. It touched the intra-day low of Rs 30,730.
