Gold On MCX Settled Down -0.24% At 29608 As Fears Of Another Round Of U.S. Tariffs

Gold on MCX settled down -0.24% at 29608 as fears of another round of U.S. tariffs on China and expectations of higher interest rates lifted the dollar. 

Federal Reserve policymakers broadly agree that U.S. interest rates should rise further this year and next, despite U.S. President Donald Trump’s displeasure with such a plan, two policymakers’ comments underscored. 

The Fed’s latest policy meeting minutes suggested it is on course to raise interest rates further after two hikes this year, denting demand for non-interest-yielding gold.

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