Dancing on the equities' upmoving tune, gold joins the chorus
Shital Jibhe / 23 Feb 2017
Minutes after the US Federal Reserve meeting on 22 February 2017, uncertainty about Trump's new administration among policymakers was witnessed, which led to a slight up move in gold prices on the multi commodity exchange (MCX) in the early trade hour on Thursday.
Minutes after the US Federal Reserve meeting on 22 February 2017, uncertainty about Trump's new administration among policymakers was witnessed, which led to a slight up move in gold prices on the multi commodity exchange (MCX) in the early trade hour on Thursday.
Gold was trading 0.24 per cent or Rs 70 higher, at Rs 29,278 per 10 gram at the start of the session, and silver was trading flat at Rs 42,708 per 1 kg on MCX.
The Federal Reserve meeting indicated that it might act fairly on the rates soon, but also said that the impact of new White House policies remained unclear.
SPDR Gold Trust GLD, the world's largest gold-backed exchange traded fund (ETF), said its latest holdings stood at 841.17 tonnes, remain unchanged from the previous business day. The world's largest silver backed ETF-New York's iShares Silver Trust SLV's holdings stood at 10,428.42 tonnes, up 18.05 tonnes, from the previous business day.
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