Gold dips on Fed policy statement
24/08/2018
Gold dips on Fed policy statement
24/08/2018 05:46
Gold futures closed lower in the domestic market on Thursday after minutes from the Federal Reserve’s policy most recent gathering referenced the potential for tariff disputes to harm global markets. The U.S. and China escalated their monthslong trade war, implementing on Thursday punitive 25 per cent tariffs on USD 16 billion worth of each other’s goods. Financial market participants are anxious for further clues on a changed pace for interest-rate hikes. The Fed is expected to raise rates next month and one more time this year, while continuing on a course of moderate rate increases next year. At the MCX, gold futures for October 2018 contract ended at Rs 29613 per 10 grams, down by 0.22 per cent, after opening at Rs 29,628 against a previous close of Rs 29,678. It touched the intra-day low of Rs 29,540.
24/08/2018
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Gold dips on Fed policy statement
24/08/2018 05:46
Gold futures closed lower in the domestic market on Thursday after minutes from the Federal Reserve’s policy most recent gathering referenced the potential for tariff disputes to harm global markets. The U.S. and China escalated their monthslong trade war, implementing on Thursday punitive 25 per cent tariffs on USD 16 billion worth of each other’s goods. Financial market participants are anxious for further clues on a changed pace for interest-rate hikes. The Fed is expected to raise rates next month and one more time this year, while continuing on a course of moderate rate increases next year. At the MCX, gold futures for October 2018 contract ended at Rs 29613 per 10 grams, down by 0.22 per cent, after opening at Rs 29,628 against a previous close of Rs 29,678. It touched the intra-day low of Rs 29,540.
