Gold futures steady; eyes Federal Reserve meet

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Gold futures steady; eyes Federal Reserve meet
Gold futures were seen trading steady on Saturday on the Multi commodity Exchange, with gold futures for April delivery were trading at Rs 29,380 per 10 grams higher by Rs 21.

International gold closed higher on Friday after US consumer price report supported monetary easing by the Federal Reserve.

As per Kitco gold survey, out of 25 participants, 17 see prices up, while two see prices down, and six see prices moving sideways or are neutral.

Gold movement will be largely dependent on the outcome of the Federal Reserves policy meet, which is held on March 19. If any negative outcome would hurt the gold sentiment

Read more about: gold, futures, mcx
Story first published: Saturday, March 16, 2013, 14:04 [IST]
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