Gold Edges Higher As Investors Await Fed, US Presidential Election

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Gold prices were trading higher, as investors awaited the outcome of a 2-day US Fed meet, which is widely expected to keep interest rates steady in the US.

Gold Edges Higher As Investors Await Fed, US Presidential Election
Gold prices moved higher to $1288 an ounce, rallying from $1280 an ounce, after fresh opinion polls showed that Trump was leading by one per centage point, against Hillary Clinton.

US Gold Futures also pointed to a higher opening. In the domestic market gold for 10 grams was trading at Rs 30,900 for 22 karats, while 24 karats gold moved higher by Rs 31,900 per 10 grams. Prices have risen in the domestic market today, fortunately after the conclusion of the festive season.

Check gold rates here

All eyes would be on the conclusion of the US Fed meet later today, which would provide some cues on future interest rate hikes, if the US Fed does not hike interest rates later today.

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Read more about: gold
Story first published: Wednesday, November 2, 2016, 13:35 [IST]
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