[Latest News][6]

Best Stock Advisory Company in Indore
Best Stock Option Tips Provider
Budget 2018
Call Put Option Tips
Commodity Market Tips
Commodity Tips
F&O Tips
Indian Stock Market Tips
MCX Tips
Mcx Trading Tips
NCDEX tips
Nifty Future Tips
Nifty Option Tips
NSE BSE stock
NSE BSE stock Market
Option Tips
Option Trading Tips
Share Market Tips
Stock Market Tips
Stock Option Market Tips
Stock Option Tips

Gold Under Pressure As Fed's Yellen Backs Gradual Rate Hikes

Gold prices edged down on Thursday on a strong dollar after Federal Reserve Chair Janet Yellen advocated lifting U.S. interest rates gradually. Spot gold was down 0.1 percent to $1,202 per ounce by 0335 GMT, after dropping to as much as $1,197.31. The bullion hit an eight-week high of $1,218.64 on Tuesday.

U.S. gold futures had fallen as much as over 1 percent to $1,197.10. The dollar index, which measures the greenback against a basket of currencies, rose 0.3 percent to 101.200. "There is no change in Fed's stance about rate hikes, which is in line with market expectations," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.

Get Two Days Free Trial from here and work with us click here http://www.ripplesadvisory.com/services.php.

With the U.S. economy close to full employment and inflation headed toward the Federal Reserve's 2 percent goal, it "makes sense" for the U.S. central bank to gradually lift interest rates, Fed Chair Janet Yellen said on Wednesday. Dallas Fed President Robert Kaplan on Wednesday joined the chorus of central bank officials making a case for a gradual hike in U.S. interest rates.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Start typing and press Enter to search