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Gold falls as investors wait for Fed

By Religare

Gold prices eased on Wednesday ahead of the latest US Federal Reserve announcement on monetary policy with expectations for cautious language given recent mixed economic data. Metal traders shifted their focus to the conclusion of the Federal Open Market Committee's two-day meeting on Wednesday when the Fed could offer hints on the timing of a highly-anticipated interest rate hike.

Gold futures for June 2015 contract, at MCX, were trading at Rs. 27,141 per 10 grams, down by 0.18 per cent after opening at Rs. 27,123 against the previous closing price of Rs. 27,190. It touched the intra-day low of Rs. 27,110 till the trading. (At 12.19 PM today).

Story first published: Wednesday, April 29, 2015, 23:00 [IST]
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