Gold opens at three-month lows as Fed decision nears
Gold opened at its lowest level in three months as traders waited for the Federal Reserve's rate decision, reports say.
Gold opened at three-month lows as the week of the Federal Reserve's rate decision began, reports say. One report says prices fell near 1.42 lakh rupees, down more than 3,000 rupees over 10 days.
Reports differ on the direction. One report says prices stabilised near the three-month lows, while another says they are oversold below $4,000 (the price of an ounce) and a rally may stay out of reach soon.
A further report says gold is caught between rising oil and falling yields (the returns on bonds).
The reports do not say what happens next.
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Educational only, not financial advice. Numbers beside the story are from our own data.