Bengaluru
Gold prices edged up on Monday as the dollar stayed on the defensive, finding support from the U.S. Federal Reserve´s conservative guidance on the path of rate hikes this year.
Spot gold was up 0.2 percent to $1,231.05 per ounce by 0100 GMT. U.S. gold futures were mostly unchanged at $1,230.80. The dollar index , which measures the greenback against a basket of currencies, was down 0.1 percent to 100.230. Markets were bracing for a packed week of Fed messaging with no less than nine different policy makers set to speak, including Chair Janet Yellen on Thursday. Yellen´s cautious guidance last week has investors pricing in almost no chance of another rate rise at the next policy meeting in May, rising to around 50-50 for June.
Holdings of SPDR Gold Trust , the world´s largest gold-backed exchange-traded fund, fell 0.35 percent to 834.10 tonnes on Friday from 837.06 tonnes on Thursday.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...