Profile image
Story Views

Last Hour:
Last 24 Hours:

MTECHTIPS:-Gold in holding pattern: Fed decision eyed

Thursday, March 16, 2017 6:48
% of readers think this story is Fact. Add your two cents.

MTECHTIPS:-Gold in holding pattern: Fed decision eyed



MTECHTIPS-Gold prices traded slightly lower on Wednesday, as investors eyed the Federal Reserve’s interest rate decision expected later in day while a slump in the dollar provided respite for the yellow-metal. Gold continued to trade in a narrow range ahead of the Federal Reserve’s interest rate decision, as the yellow metal pivots around the key $1200 level, supported by a slump in the dollar, which last traded down 0.29% at 101.33 by 13:29 EDT. Gold has retreated 5% since its high of $1263.10 on Feb 28, after expectations of a March rate continued to gained traction. According to’s Fed rate monitor tool, 95% of traders expect a rate hike later in the day. As the majority of traders (95%), expect the Federal Reserve to hike rates later today, market participants will likely focus on the message from the US central bank concerning the pace of rate hikes this year, after the central bank in December hinted at the possibility of three rate hikes in 2017. Meanwhile the yellow-metal held up relatively well amid a raft of U.S. economic data releases, as inflation data and U.S. retail sales matched forecasts. The Labor Department said Wednesday, consumer prices rose 0.2% in February, while the Commerce Department said retail sales climbed 0.1%. Both consumer prices and retail sales were in line with forecasts





We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.