Global gold prices steady as investors eye Fed Reserve minutes

Currently, MCX gold (Oct-4 expiry) is down 0.36% at Rs37,870/10gms owing to a stronger rupee, while MCX Spot Gold is at Rs37,688/10gms.

Aug 21, 2019 06:08 IST India Infoline News Service

Global gold prices remained steady on Wednesday after recovering above the key $1,500/ounce level on Tuesday. Investors now await the minutes of the Federal Reserve's July meet for possible indications on further US interest rate cuts.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.21% to 845.17 tonnes on Tuesday. 

Back home, India's gold imports rose 15.4% to $13.16bn during April-July period of FY20, according to data from the commerce ministry. 
Domestic gold prices on Tuesday touched a fresh record high of Rs38,770/10gms in Delhi on rising by Rs200 on buying from jewellers.

Currently, MCX gold (Oct-4 expiry) is down 0.36% at Rs37,870/10gms owing to a stronger rupee, while MCX Spot Gold is at Rs37,688/10gms.  

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