Gold Dips As Yellen Speech Eyed

Gold futures closed lower in the domestic market on Thursday as investors anticipated clarity this week on the near-term path for interest rates. Precious metals and the dollar have vacillated amid shifting expectations about the U.S.

Federal Reserve’s interest-rate policy, ahead of a closely watched retreat in Jackson Hole, Wyo., where Fed Chairwoman Janet Yellen will speak later today.

At the MCX, Gold futures for October 2016 contract closed at Rs 30,945, per 10 gram, down by 0.33 per cent after opening at Rs 31,029, against the previous closing price of Rs 31,046. It touched the intra-day low of Rs 30,851.

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Suhani Verma

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