Gold slipped on Wednesday as investors booked profits from a recent price hike and waited for an interest rate decision by the U.S. Federal Reserve, which may set direction for the dollar and precious metals. Gold is currently trading at 891.10 an ounce from $888.70 an ounce late in New York on Tuesday, when it rose nearly $6 on a weaker dollar.The Fed is widely expected to hold interest rates steady at 2 percent later in the day. Investors will scrutinize the accompanying statement for clues on the central bank's thinking on mounting inflationary pressure. Gold jumped to its highest level in more than a week at $907.90 on rising oil prices on Thursday before retreating, and it is still well below a record high of $1,030.80 hit in mid-March.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment