Gold Steady below $1,200; Fed meeting eyed

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    International gold held steady below $1,200 an ounce on Wednesday ahead of Federal Reserve last policy meeting of the year. 

    Investors were also watching Russia after the rouble plunged more than 11 per cent against the dollar. Investors eye outcome of the Federal Open Market Committee, if there is a word on hike in the interest rate, it will drag the gold lower. Spot gold was seen at $1,197 an ounce.

    Gold Steady below $1,200; Fed meeting eyed

    Recent, strong US data signaling improvement is US economy raised bets that the US Federal Reserve will raise interest rates next year.

    At 3.20 PM IST, on the Multi Commodity Exchange, Gold Futures for December delivery was seen trading lower by Rs 64 at Rs 27,130 per 10 grams. Check the gold rates here.

    GoodReturns.in

    Read more about: gold
    Story first published: Wednesday, December 17, 2014, 15:28 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    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