Commodity News
HeadLine : Gold prices mostly steady in Asia as recent gains capped
Date : Sep 23 2016

Gold for December delivery on the Comex division of the New York Mercantile Exchange showed small gains and losses on Friday, last trading at $1,340.95 a troy ounce, up 0.02%.

Overnight, gold prices extended overnight gains during North America's session on Thursday, touching a fresh two-week peak as the U.S. dollar sold off after the Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year.

The Fed left interest rates unchanged at the conclusion of its policy meeting on Wednesday, but hinted that a hike could come in December if the job market continued to improve.

At the same time, the U.S. central bank also cut the number of rate hikes it expects next year and in 2018, according to the median projection of forecasts released with its post-meeting statement.

 

Source:  Investing.com

News Archives: