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Yellow metal little changed after Fed minutes

by Ripples Advisory Private Limited - 3:42 pm

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Gold futures little changed during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal on rise in the safe-haven demand amid uncertainty surrounding the US President Trump’s economic policy after Wednesday's US Fed minutes failed to give the market much direction, despite its support for interest rate hikes.

Gold slipped as the dollar firmed, with investors looking to minutes from the U.S. Feds latest meeting for clues on the timing of interest rate hikes.At the MCX, gold futures for April 2017 contract is trading at Rs 29229 per 10 grams, up by 0.07 per cent, after opening at Rs 29252, against a previous close of Rs 29208. It touched the intra-day high of Rs 29280.

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