You are here: Home » Markets » Commodities » Precious Metals
Business Standard

Gold slides over 1% as Fed dashes imminent rate-cut hopes

Gold prices hit their highest level since May 14, 2013 at $1,438.63 in the previous session

Reuters  |  Bengaluru 

Gold prices slipped more than 1 per cent on Wednesday, moving away from a six-year peak hit on Tuesday, as US Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally. Spot gold was down 1.2 per cent at $1,405.60 per ounce, heading for its first decline in seven sessions. Gold prices hit their highest level since May 14, 2013 at $1,438.63 in the previous session. US gold futures fell 0.4 per cent to $1,413.30 an ounce. "The combination of length that was built-up in the market over the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, June 26 2019. 09:54 IST
RECOMMENDED FOR YOU