Gold Prices Rebound As US Interest Rate Fears Ease

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, September 16, 2016, 13:22 [IST]

Gold prices gained, after US data suggested that the US Fed may hold back on interest rate hikes in the US.

The US Fed is slated to meet later next week, which may see the US central bank, keeping interest rates steady.

Spot gold in the international market was trading at $1317 an ounce, while gold futures too was higher.

In the spot market in India, 24 karat gold was trading around Rs 32,500 per 10 grammes in the Indian market. This was in the city of Mumbai.

Check gold rates in Indian cities here

Most of the cities were seeing a steady trend in gold prices. The festive season next month may see brisk buying in the coming months.

However, there maybe some volatility in gold prices ahead of the US Feed Meet next week.

GoodReturns.in