Gold settles slightly higher a day before Fed meeting kicks off

Tuesday, 30 July 2019 01:24 WIB



Gold futures settled marginally higher Monday as a key policy meeting by the Federal Reserve, set to kick off Tuesday, loomed.

August gold settled $1.10, or 0.1%, higher at $1,420.40 an ounce, while December futures , another popular contract, also edged $1.10 higher, or less than 0.1%, to finish at $1,433.30/oz.

The rate-setting Federal Open Market Committee is widely expected to cut rates by at least 25 basis points at the conclusion of its two-day policy gathering on Wednesday, even as recent data showed that the U.S. economy grew at a healthy annualized pace of 2.1% in the second-quarter, higher than the 1.9% pace forecast from MarketWatch polled economists.

Gold has enjoyed gains on the back of a dim outlook for the health of the global economy and the prospect of lower, and in some cases negative fixed-income rates, sweeping the globe.

Source : MarketWatch


  • Gold prices inched up on Wednesday as traders await the U.S. Federal Reserve’s minutes of its latest meeting, which is due later in the day. Gold Futures for April delivery gained 0.2% to $1,607.25 b...



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