Gold dips as rate hike likely in next Fed meet
06/03/2017 08:40
Gold futures closed lower in the domestic market on Friday after U.S. Federal Reserve Chairwoman Janet Yellen said an interest-rate increase was likely to be announced at the central bank’s next meeting later this month.
Yellen said that ahead of the gold futures settlement, that a rate hike at the Fed’s policy meeting on March 14-15 is likely to be appropriate if employment and inflation continue to meet the central bank’s expectations.
At the MCX, gold futures for April 2017 contract ended at Rs 29020 per 10 grams, down by 0.51 per cent, after opening at Rs 29,168 against a previous close of Rs 29,190. It touched the intra-day low of Rs 28,952.
06/03/2017 08:40
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Gold futures closed lower in the domestic market on Friday after U.S. Federal Reserve Chairwoman Janet Yellen said an interest-rate increase was likely to be announced at the central bank’s next meeting later this month.
Yellen said that ahead of the gold futures settlement, that a rate hike at the Fed’s policy meeting on March 14-15 is likely to be appropriate if employment and inflation continue to meet the central bank’s expectations.
At the MCX, gold futures for April 2017 contract ended at Rs 29020 per 10 grams, down by 0.51 per cent, after opening at Rs 29,168 against a previous close of Rs 29,190. It touched the intra-day low of Rs 28,952.
