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Gold Futures Decline on Global Cues; Fed Minutes Eyed

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Gold Futures fell tracking weak global cues ahead of Federal Reserve releases the minutes of its last meeting.

 

The gold sentiment was also weighed by strengthening in the dollar, which makes gold more expensive for other currency holders.

Gold Futures Decline on Global Cues; Fed Minutes Eyed

Check the gold rates in various cities here.

At the Multi Commodity Exchange (MCX), gold futures for latest delivery declined by 0.25 percent to Rs 27,288 per 10 grams at 2.40 pm IST.

International gold fell to one-week low on Wednesday and was seen trading at $ 1,207 per ounce.

Gold was weighed on speculation on an interest rate hike after the robust housing data.

Recently, gold rose to three months high on sluggish US data, on hoping that Fed will delay interest rate hike.

GoodReturns.in

Read more about: gold futures federal reserve
Story first published: Wednesday, May 20, 2015, 14:56 [IST]
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