Gold prices declined in futures trade on Wednesday, mirroring the trend in overseas markets wherein the yellow metal inched down as the dollar held firm.
Since international gold is dollar-denominated, a stronger dollar drags gold prices lower by making the demand for the commodity subdued.
Moreover, investors restricted their bets in the safe-haven metal as they waited for the outcome of the Federal Reserve's meeting later in the day when policymakers are expected to cut interest rates.
Back home, fall in demand by jewellers at spot markets also weighed on gold prices.
To Get Free Trial
Missed Call@9582541010
Whatsapp@8819040176
Mail Us = starindiamarketresearch@gmail.com
No comments:
Post a Comment