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Gold drops 1% as dollar rises after US Fed's upbeat economic view

Spot gold was down 1.1% to $1,938.12 per ounce by 0321 GMT. U.S. gold futures slipped 1% to $1,951.30

Topics
Gold Prices | US Federal Reserve

Reuters 

By Brijesh Patel (Reuters) - Gold prices fell more than 1% on Thursday as the dollar climbed after the U.S. Federal Reserve painted a favourable economic recovery picture but stopped short of offering concrete signals on further stimulus. Spot gold was down 1.1% to $1,938.12 per ounce by 0321 GMT. U.S. gold futures slipped 1% to $1,951.30. "Investors across the Asia-Pacific are perhaps not inspired by last night's FOMC (Federal Open Market Committee) meeting, in which the central bank seems to be reluctant to add stimulus in view of improving fundamentals," said ...

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First Published: Thu, September 17 2020. 10:47 IST
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