Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Gold Prices Tick Up Ahead Of Fed Meeting

Published 09/16/2015, 06:57 AM
Updated 07/09/2023, 06:31 AM
GC
-
HG
-
SI
-

As all markets look ahead to the Federal Reserve meeting which will result in a decision about raising interest rates, gold prices ticked higher during Asian trading on Wednesday.

Gold futures for December delivery on the Comex of the New York Mercantile Exchange added 0.14 percent trading at 1,104.10 dollars a troy ounce.

Overnight gold futures fell mildly on Tuesday from their gains in the earlier session as traders remained cautions by the volatility which will be cause by the critical two-day Federal Open Market Committee (FOMC) meeting starting today.

Data released on Tuesday showed a 0.2 percent increase in retail sales for August which fell short from the 0.3 percent increase expectations. Core retail sales excluding automobiles added 0.1 percent in August lower than the expected 0.2 percent. US industrial production fell by 0.4 percent for August more than the expected 0.2 percent decline.

Expectations which were settled on a September rate hike have thinned after a series of disappointing data in the U.S. and meltdowns in two of the world's largest economies; Japan and China.

Silver futures on the Comex added 0.10 percent trading at 14.340 dollars a troy ounce, while copper for December delivery lost 0.10 percent to 2.425 dollars a pound.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.