Gold down
AFP
By our correspondents
June 17, 2015
Singapore
Gold fetched $1,184.20, down 0.2 percent. Gold slipped as the dollar firmed ahead of the US Federal Reserve’s two-day policy meeting, while a looming Greek crisis failed to trigger sustained demand for safe-haven assets.
“Gold is lower due to a strengthening dollar,” Saxo Bank senior manager Ole Hansen said.
“The Fed meeting is still the theme ... there won’t be a rate decision, but the question is obviously how they will communicate their current sense of the economy,” he said, adding that any comment on the interest rate timing could have some impact on the gold price direction in the market.
Bullion has not made much leeway in the past few months due to uncertainty over the timing of a rate rise which would diminish demand for the non-interest-paying asset.
Gold fetched $1,184.20, down 0.2 percent. Gold slipped as the dollar firmed ahead of the US Federal Reserve’s two-day policy meeting, while a looming Greek crisis failed to trigger sustained demand for safe-haven assets.
“Gold is lower due to a strengthening dollar,” Saxo Bank senior manager Ole Hansen said.
“The Fed meeting is still the theme ... there won’t be a rate decision, but the question is obviously how they will communicate their current sense of the economy,” he said, adding that any comment on the interest rate timing could have some impact on the gold price direction in the market.
Bullion has not made much leeway in the past few months due to uncertainty over the timing of a rate rise which would diminish demand for the non-interest-paying asset.
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