Gold steady ahead of Fed Reserve meet

Market participants have a keen eye on the Dec 15 deadline for more tariffs on Chinese goods.

Dec 09, 2019 07:12 IST India Infoline News Service

Gold prices were trading near flat on Monday in Asia as traders awaited the US Federal Reserve meet later this week as well as any developments on the Sino-US trade developments.

US Gold Futures were trading flat at $1,464.85/ounce at 05:10 GMT after the precious metal saw a sharp fall on Friday after better-than-expected US non-farm data.

Market participants have a keen eye on the Dec 15 deadline for more tariffs on Chinese goods. White House economic adviser Larry Kudlow said in an interview with Bloomberg that both sides are “still close” to agreeing on a phase-one trade deal.

Meanwhile, US President Trump “likes what he sees so far in the trade deal with China,” Kudlow added.

The US Fed Reserve meeting also begins Tuesday. The Fed is likely to keep rates on hold after the strong jobs data.

Back home, MCX Gold Feb expiry Futures traded at Rs37,650/10g, slightly lower by 0.13%.

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