Gold On MCX Settled Down -0.18% At 30476 As Investors Awaited Federal Reserve

Gold on MCX settled down -0.18% at 30476 as investors awaited Federal Reserve policy meeting minutes for clues on the outlook for U.S. interest rates.

The minutes from the last U.S. Federal Reserve meeting showed policymakers confident in the need to keep raising interest rates.

The more upbeat take on inflation in the minutes of the Jan. 30-31 policy meeting released on Wednesday will likely further cement expectations that new Fed chief Jerome Powell will lead his colleagues in raising interest rates next month.

The “best hope” for the impact of the Trump administration’s $1.5 trillion tax overhaul on the U.S. economy is that it boosts investment and thus productivity, Minneapolis Federal Reserve Bank President Neel Kashkari said.

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