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Gold Steady After Dollar Subdued Due To Global Economy Outlook


Dollar's weakness due to Fed's outlook on global economy has once again pushed traders to ascertain interest rate hike scenario in the US. And in its wake, after scaling to a high, has again reached stability in price.

Gold Steady After Dollar Subdued Due To Global Economy Outlook

In the international mark, spot gold is trading little changed at 0417 GMT at $1,220.70/ounce. In the previous session, it gained by as much as 0.7%.

Gold futures in the US have trading with loss of 0.1% at $1,222.3 per ounce.

Also, there holds a view that in the wake of the current US-China turmoil, the US central bank might have a neutral outlook beyond 2018 and also the pace of economic growth may slow down, interest in gold might return back.

In the domestic markets too,amid increasing demand due to wedding season has gained Rs. 50 for 10 gm and in today's session 22K and 24K gold is priced at Rs. 30,600 and Rs. 32,450, respectively.

Read more about: gold dollar us china trade war
Story first published: Monday, November 19, 2018, 11:43 [IST]
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