Category Archives: news

Gold Inches Down As U.S. Rate Hike Looms

Gold prices held steady early on Thursday as upbeat U.S. economic data bolstered the possibility of the Federal Reserve raising interest rates next month and beyond. Gold has traded within a tight range of about $24 for the month of November Another Fed policymaker, Charles Evans, said he will go with an open mind into next month’s policy meeting, at which the U.S. central bank is expected to raise interest rates for a third .

Gold prices inch down as stronger dollar weighs

In the wake of their biggest one-day percentage loss in about two weeks in the previous session, weighed down as the U.S. dollar firmed.Gold prices edged lower early on Monday A Federal Reserve official said on Monday he expects to back an interest rate hike next month despite caution over the low-inflation “conundrum,” since the U.S. central bank needs to prepare for any future economic shock. Spot gold was down 0.1 percent at $1,274.90 .

GOLD HOLDS STEADY AT NEAR THREE WEEK

After marking a near three-week high in the previous session as the dollar firmed,Gold held steady early on Thursday while palladium remained close to an over 16-year peak touched on Wednesday. Holdings in SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, fell for the sixth straight day on Wednesday by 0.14 percent to 843.09 tonnes. * Spot gold was nearly unchanged at $1,280.81 per ounce at 0101 GMT. On Wednesday, it rose .