Gold Prices Dropped As Speculation Grew That The U.S. Federal Reserve

Gold trading range for the day is 28809-29305. Gold prices dropped as speculation grew that the U.S. Federal Reserve would press ahead with a rate increase this month.

Fed Chair Janet Yellen said that the central bank is set to raise its benchmark interest rate later this month. 

SPDR gold trust holdings dropped by 0.55% i.e. 4.74 tonnes to 840.58 tonnes from 845.32 tonnes.

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