Stock Market News

Gold eases as Fed minutes raise expectations of US rate hike

gold-bars1Gold price inched 0.7 per cent lower at Rs 26,565 per 10 gm today on MCX following the overnight release of minutes from the US Federal Reserve’s March policy meeting.

The yellow metal declined as minutes suggested that some of the US policymakers were in favour of a rate hike as early as June.

Traders were seen squaring off their bullish positions on MCX, with open interest (or open contracts) falling to 8,046 from 8,102 contracts.

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