STOCK MARKET BSE NSE

Gold dips as dollar gains ahead of Fed statement

Published: 01st November 2017 09:14 AM  |   Last Updated: 01st November 2017 09:14 AM   |  A+A-

A sales person shows a gold ring to customers at a jewellery showroom in Ahmedabad, October 28, 2016. (Reuters)

By Reuters

Gold edged lower early Wednesday as the dollar firmed with investors awaiting hints on a U.S rate hike following the Federal Reserve's two-day policy meeting.

FUNDAMENTALS

* Spot gold was down 0.3 percent at $1,267.80 per ounce at 0106 GMT.

* U.S. gold futures for December delivery dipped 0.1 percent to $1,268.80.

* The dollar index which tracks the greenback against a basket of six major rivals, was up 0.1 percent. [USD/]

* U.S. consumer confidence jumped to a near 17-year high in October, with households upbeat about the labour market and business conditions, which could underpin consumer spending and boost the economy in the final three months of the year.

* The Fed is scheduled to release its statement following its meeting on Wednesday at 2 p.m. EDT.

* Investors are also awaiting the naming of the next Fed chair likely on Thursday, the Bank of England policy meeting on Thursday and more data, including U.S. payrolls figures on Friday.

* A driver in a rented pickup truck mowed down pedestrians and cyclists on a bike path alongside the Hudson River in New York City on Tuesday, killing eight people and injuring about a dozen others in what authorities said was an act of terrorism.

* The United States is quietly pursuing direct diplomacy with North Korea, a senior State Department official said on Tuesday, despite U.S. President Donald Trump's public assertion that such talks are a waste of time.

* Asian shares looked set to extend their gains into a fourth straight day on Wednesday on the back of solid economic growth, while oil prices were on a bull run on hopes of an extension of output cuts by major oil producers.

* Catalonia's ousted leader Carles Puigdemont agreed on Tuesday to a snap election called by Spain's central government when it took control of the region to stop it breaking away, but he said the fight for independence would go on.

* South Africa's Impala Platinum (Implats) said on Tuesday first-quarter platinum production fell 6.6 percent due to a stock buildup following scheduled furnace maintenance at its Impala and Zimplats operations.

* The U.S. Mint sold 15,500 ounces of American Eagle gold coins in October, up 34.8 percent from the previous month, according to the latest data.


Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp