MCX GOLD MARKET UPDATE BY RIPPLES ADVISORY

Gold eased on Thursday, after the Federal Reserve kept the door open for an interest rate hike in June, although it indicated it was in no hurry to take such a step.

 Spot gold had eased 0.1 percent to $1,244.50 an ounce by 0043 GMT. The metal has gained about 1 percent in the last three sessions.

 Gold rose as far as $1,250.09 on Wednesday, but pared gains after the Fed statement.

 U.S. short-term interest rate futures contracts swung down, then up on Wednesday after the Fed's statement. Prices currently reflect the expectation the Fed will wait until September before raising rates, the same as before the Fed's meeting. 

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