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Gold Near 8-Month Highs on Fed Rate Pause, Eyes 4th Monthly Gain


Thursday, 31 January 2019 08:30 WIB

GOLDEMAS Spot Emas


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Gold prices on Thursday held near eight-month highs hit in the previous session after the U.S. Federal Reserve signalled a potential end to its monetary tightening cycle, and the bullion was heading for its fourth straight monthly gain.

Spot gold was steady at $1,319.87 per ounce by 0042 GMT. Prices rose to their highest since May 11 at $1,323.34 on Wednesday. U.S. gold futures were up 0.7 percent at $1,319.30 per ounce.

Spot gold has risen 2.8 percent so far this month.

The Fed held U.S. interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the economic outlook.

Source : Reuters


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