Gold prices slipped on Wednesday, moving further away from a six-year peak hit in the previous session, as the dollar gained after Federal Reserve officials played down expectations of aggressive monetary easing. Spot gold was down 0.6 per cent at $1,415.01 per ounce as of 0122 GMT, after hitting its highest since May 2013 at $1,438.63 in the previous session. US gold futures were steady at $1,418.50 an ounce. Fed Chair Jerome Powell on Tuesday said the central bank is "insulated from short-term political pressures," pushing back against US President Donald Trump's demand for a significant rate cut. China's net gold imports via main conduit Hong Kong in May slumped over 50 per cent from the previous month to the lowest level since Dec. 2018, Hong Kong government data showed on Tuesday.
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