Gold prices were marginally lower, as markets awaited the outcome of a 2-day US Fed meet beginning today. In all probability the US Fed would hike interest rates, which should see some impact on gold rates.
In any case a rise in interest rates may already have been factored by the markets. Gold in the international markets was trading at $1163 an ounce, marginally lower by 0.20 cents. Gold rates in Mumbai were trading at Rs 27,800, which was also flat over the previous days closing.
Gold prices in India have fallen in line with the gobal markets from levels of as mich as Rs 28,500 to Rs 27,900 in the last few weeks. Check gold rates in Indian cities here
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