Gold futures retreat after Fed's rates cut
0 Comment(s)
Print
E-mail Xinhua, September 20, 2019
CHICAGO, Sept. 19 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange logged first loss in four sessions on Thursday, after the U.S. Federal Reserve announced the second interest rate cut this year.
The most active gold contract for December delivery was down 9.6 U.S. dollars, or 0.63 percent, to close at 1,506.2 dollars per ounce.
Fed policy makers on Wednesday cut the Fed's benchmark rate by a quarter of a point, but the move saw three dissents - with two Fed officials urging rates to remain unchanged and one calling for a larger cut.
However, traders were uncertain on the outlook for further monetary easing or the next Federal Reserve move, which kept gold price in check.
As for other precious metals, silver for December delivery was down 3.5 cents, or 0.2 percent to close at 17.884 dollars per ounce. Platinum for October delivery was up 7.8 dollars, or 0.83 percent, to settle at 942.4 dollars per ounce. Enditem
Go to Forum >>0 Comment(s)