Gold Up on Fed's Dovish Stance

Posted By: Religare
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    Gold futures closed higher in the international market on Thursday as a Federal Reserve policy update that was read as mostly dovish by investors, helped to lift prices to their highest finish.

    Gold Up on Fed's Dovish Stance

    Higher rates tend to push the dollar higher, nicking gold prices, and cut demand for precious metals, which don't offer a yield.

    Because commodities tend to be traded in dollars, the relationship between commodities and the buck is usually inverse, as moves in the U.S. unit can influence appetite for those commodities from buyers using weaker currencies.

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