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Gold Slips On Technical Selling; Fed Stance Caps Fall
Gold prices edged down on Tuesday as it failed to break a key resistance, but held near two-week highs hit in the previous session after the Chicago Federal Reserve's president said the U.S. central bank would not rush to hike interest rates. The Fed will likely wait at least until June policy meeting to decide whether to lift U.S. interest rates again, Chicago Fed President Charles Evans said on Monday. Spot gold edged down 0.5 percent at $1,227.50 per ounce by 0315 GMT. On Monday, it touched its strongest since March 6 at $1,235.50. U.S. gold futures fell 0.5 percent to $1,228.
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Gold prices edged down on Tuesday as it failed to break a key resistance, but held near two-week highs hit in the previous session after the Chicago Federal Reserve's president said the U.S. central bank would not rush to hike interest rates. The Fed will likely wait at least until June policy meeting to decide whether to lift U.S. interest rates again, Chicago Fed President Charles Evans said on Monday. Spot gold edged down 0.5 percent at $1,227.50 per ounce by 0315 GMT. On Monday, it touched its strongest since March 6 at $1,235.50. U.S. gold futures fell 0.5 percent to $1,228.
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