Gold market update : Gold was treading water from today morning as investors stuck to the sidelines ahead of a widely anticipated US rate increase next week, with even a slump in the dollar failing to set interest in the metal.
Spot gold was little bit changed at USD 1,073.31 an ounce by 0043 GMT, after closing down 0.1 per-cent in the previous session.
Yellow metal investors are cautious as the US(United States) central bank is about to increase interest rates for the 1st time in nearly a decade at its up coming policy meeting on Dec. 15-16.
Greater rates should dent requirement for non-interest-paying gold, which already lost 9 per-cent of its value at presently and is on track for its 3rd year of losses.
Spot gold was little bit changed at USD 1,073.31 an ounce by 0043 GMT, after closing down 0.1 per-cent in the previous session.
Yellow metal investors are cautious as the US(United States) central bank is about to increase interest rates for the 1st time in nearly a decade at its up coming policy meeting on Dec. 15-16.
Greater rates should dent requirement for non-interest-paying gold, which already lost 9 per-cent of its value at presently and is on track for its 3rd year of losses.
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