Stay updated with breaking news from Quantitative Commodity Research. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Gold prices slipped on Wednesday ahead of a crucial Federal Reserve policy announcement, as investors await clues on the U.S. central bank's plan to taper its pandemic-induced stimulus amid signs of rising inflation.
Gold prices held near their weakest level since mid-October on Wednesday after the U.S. Federal Reserve announced tapering of its pandemic-era stimulus measures in a widely expected move.
Ahead of a crucial Federal Reserve decision, investors fear that the decision will result in a faster-than-expected tapering of the central bank's pandemic stimulus measures.
* Reduced risk sentiment helps gold - analyst * Dollar firms near multi-month highs (Updates prices) July 20 (Reuters) - Gold prices climbed on Tuesday as concerns over the economic damage from surging Delta coronavirus cases, and a dip in U.S. Treasury yields boosted the safe-haven metal’s appeal. Spot gold rose 0.6% to $1,823.06 per ounce by 1254 GMT, having hit a low of $1,794.06 in the previous session. U.S. gold futures gained 0.8% to $1,824.20. “The great problem currently is the fear about the economic impact of the Delta variant of the coronavirus and after Japan took severe measu...