Gold prices slipped from one-month high during European hours on Thursday, as the Federal Reserve signaled it could hike interest rates in December. Earlier this week, the uncertain U.S. election continued to cloud the market's outlook that helped Gold futures.
Gold for December delivery on the Comex division of the New York Mercantile Exchange was down $17, or 1.3%, to $1292 a troy ounce. MCX Gold was trading at Rs 30330 per 10 grams, down 1.1%. The prices tested a high of Rs 30649 and a low of Rs 30280 per 10 grams.
The Fed kept interest rates unchanged on Wednesday in its last policy decision before the U.S. election, but signaled it could hike in December as the economy gathers momentum and inflation picks up.
The US Dollar index which measures the greenback's strength against a
trade-weighted basket of six major currencies was down 0.3% at 97.12
early Thursday, after falling to 97.08 earlier, the weakest level since
October 11.Copper prices maintained the journey of gains during the session ending Friday . The metal closed above Rupees 334 per kg steppung aside levels of INR 330 per kg, which is the important psychological level a few days back. If this rally continues the prices of copper can move towards INR 338 per kg levels. Meanwhile on the lower side supports of Rupees 330 per kg level are active. The red metal closed at INR 334.25 per kg and tested high of INR 335.25 per kg while on the lower side INR 330.70 kg levels registered.
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