Gold on MCX settled down -0.29% at 29366 down slightly from Monday’s 2-week high as unable to extend recent gains amid uncertainty over the Fed’s rate hike report.
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FOMC Convenes For The Two-Day Meeting on June 14-15
Gold Silver Reports — Gold prices pared losses during later half on Tuesday as investors contemplated the likelihood that the Federal Reserve would raise interest rates in the coming months.
Vancouver-Based Miner is Planning to Raise $820 Million to $940 Million
Gold Silver Reports — Lundin Gold Inc. is forging ahead with its gold project in Ecuador, one of the world’s largest undeveloped deposits, a signal the industry is moving back into expansion mode as the metal continues to rally.
Janet Yellen Speech Suggests Fed Will Rethink Interest-Rate Plans
Gold Silver Reports — Federal Reserve Chair Janet Yellen said on Monday that interest rate hikes are likely on the way because “positive economic forces have outweighed the negative” for the United States, though last month’s weak jobs report bears watching.
Stocks Rise Before U.S. Jobs Data
Gold Silver Reports — Most Asian equities rose and the Japanese yen held near a three-week high before U.S. jobs data that will shape expectations for the timing of the Federal Reserve’s next interest-rate hike. The British pound extended its loss for the week and Brent crude traded near $50 a barrel.
Gold Up After Dismal May as Traders Weigh Rate Report
Gold Silver Reports — Gold held the first advance in 10 days as investors looked to the release of U.S. data this week including monthly payrolls that’ll shape the thinking of Federal Reserve policy makers on whether to raise interest rates in the months ahead.
Gold Has Lost About 5.9 Percent in May
Gold (XAU/USD) pulled back from record highs a handful of dollars below $,4,900, following US President Trump’s softer tone at the Davos Forum, but the precious metal remains steady above $4,800, which shows that demand for safe assets remains steady.