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Gold down on profit-taking as stocks rally after Fed holds rates

Discussion in 'Indian Stocks' started by chetanepic, Sep 23, 2016.

  1. chetanepic

    chetanepic New Member

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    Gold prices edged lower on Thursday as investors booked profits after a 1.5 per cent rise in the previous session, opting for riskier assets like equities after the US Federal Reserve held interest rates steady at the end of a two-day policy meeting.

    Spot gold was down 0.3 per cent at $1,332.80 an ounce by 0402 GMT, while US gold futures rose 0.4 per cent to $1,336.70 an ounce.

    Asian shares surged on Thursday, taking their cue from Wall Street, slugging the dollar and lifting most commodity prices.

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