Gold On MCX Settled Down -0.34% At 30929 Tracking Weakness From Comex Gold - Dollar Advisory | Best Commodity Tips Provider

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Wednesday 2 May 2018

Gold On MCX Settled Down -0.34% At 30929 Tracking Weakness From Comex Gold

Gold on MCX settled down -0.34% at 30929 tracking weakness from Comex Gold prices which tumbled in yesterday’s session fell $12.40 to settle at $1306.80/oz, the lowest settlement in two months along with U.S. stocks ahead of tomorrow's interest rate decision.

The Fed will likely signal that further rate hikes are imminent. Rising inflation would be a catalyst to push the Fed toward raising interest rates at a faster pace than currently expected.

Fed officials projected three increases in 2018 at their meetings December and March. The Fed is due to conclude its two-day meeting on Wednesday and is not expected to take any action on interest rates.

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