Gold Prices Higher As Markets Await US Fed Minutes

Business

oi-Sunil Fernandes

Gold prices traded higher, as global markets awaited the US Fed Minutes, which are largely expected to hint at an interest rate hike in the US.

By Sunil Fernandes

Published: Wednesday, November 23, 2016, 13:39 [IST]

Gold prices traded higher, as global markets awaited the US Fed Minutes, which are largely expected to hint at an interest rate hike in the US.

International gold was trading at $1212 an ounce, while US Gold Futures were hovering around the same levels.

In the domestic markets gold for 22 karats was trading at Rs 28,700 per 10 grams, as against the earlier price of Rs 28,600 per 10 grams.

Gold prices are likely to take cues from the US Fed Minutes meeting and are likely to react to the same. In India, gold has given decent returns of 20 to 22 per cent, in the past one year, making it the best asset class so far this year, in terms of returns.

Check gold rates in India here

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