Gold loses ground after Fed delivers 'hawkish cut' to interest rates

Thursday, 19 September 2019 19:35 WIB



Gold was modestly lower Thursday, building on a loss seen a day earlier after the Federal Reserve delivered a widely expected interest rate cut but left traders uncertain on the outlook for further monetary easing.

Gold for December delivery on Comex fell $6.80, or 0.4%, to $1,509 an ounce, while December silver was up a penny at $17.92 an ounce.

Gold finished regular trading with a gain on Wednesday, but lost ground in electronic trade after the Fed decision. As expected, policy makers cut the Fed's benchmark rate by a quarter of a point, but the move saw three dissents — with two officials urging rates to remain unchanged and one calling for a larger cut.

In other metals trade, October platinum rose 10 cents, or less than 0.1%, to $934.70 an ounce, while December palladium was up 30 cents, or less than 0.1%< to $1,582.50 an ounce.

Source : MarketWatch


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