Gold Sits Tight As Investors Wait for U.S. Rate Hike Clues

Gold was mostly unchanged early on Wednesday as investors remained on the sidelines waiting for clues from the U.S. Federal Reserve later this week on whether it will raise rates this year.

 FUNDAMENTALS

 

* Spot gold was nearly flat at $1,338.20 an ounce at 0059 GMT.

 

* U.S. gold slipped 0.3 percent to $1,342.60 an ounce.

* Amid conflicting signals from the Fed in recent days, central bankers from around the world will gather from Aug. 25 for an annual meeting in the mountains of Jackson Hole, Wyoming, with Fed chair Janet Yellen due to speak the following day.

 

* Data on Tuesday showed new U.S. single-family home sales unexpectedly rose in July, reaching their highest level in nearly nine years as demand increased broadly, brightening the housing market outlook.

 

* Switzerland's gold exports to the United Kingdom hit their highest in nearly four years in July, customs data showed on Tuesday, making it the country the biggest recipient of Swiss gold for a fifth straight month.

 

* Switzerland's raw platinum imports more than halved month-on-month in July, data from the Swiss customs bureau showed, as shipments from No.1 producer South Africa dried up.We are provide all  Agricommodity Tips, Agri Commodity Market Tips and you can call us on :-9827808090.

 

* Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.

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