Thursday, 3 May 2018

Gold On MCX Settled Flat -0.01% At 30925 As Prices Remained Under Pressure

Gold on MCX settled flat -0.01% at 30925 as prices remained under pressure as ongoing demand for the dollar pressured prices to give up some of its gains ahead of a Fed interest rate decision. 

Trader will be eyeing on a U.S. high-level trade meet as delegation travels to China on Thursday to try to avert a trade war between the world’s two largest economies. 

The Federal Reserve held interest rates steady on Wednesday and expressed confidence that a recent rise in inflation to near the U.S. central bank’s target would be sustained, leaving it on track to raise borrowing costs in June.

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