For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold declines ahead of FOMC meet on Dec 17-18

|

Gold prices declined in trade today ahead of a crucial Federal Open Market Committee (FOMC) meet slated for Dec 17 and Dec 18, which could decide the outcome of QE3 tapering. To read more about QE3 tapering click here

MCX gold for Feb delivery was down Rs 114 at Rs 29,318 on the MCX.

Silver on the other hand was down by Rs 223 at Rs 44,553 on the MCX.

 

International prices of gold have been on the decline this year, as investors have preferred investing in equities over gold. A global economic recovery has prompted investors to shun gold and invest in equities. In fact, international gold prices have dropped almost a fifth of their value this year.

However, Indian gold prices have not trended lower thanks to a sharp depreciation in the rupee.

GoodReturns.in

Read more about: gold mcx fomc
Story first published: Monday, December 16, 2013, 12:52 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more