The most-actively traded gold futures contract rose 0.6% to $1,957.10 a troy ounce, after the Federal Reserve approved an interest-rate increase of 0.25% and signaled plans to raise rates again next month.
Gold prices rose with the broader stock market, with analysts saying the market doesn’t believe the Fed will keep at its aggressive pace for too much longer. That dragged down U.S. government bond yields and the U.S. dollar, making it more appealing to hold gold.
Meanwhile, Oil prices settled lower after sliding more than $3 a barrel in the session after U.S. government data showed big builds in crude oil, gasoline and distillate inventories and OPEC and its allies stuck to their output policy.
#goldprices #crudeoilprices #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
About CNBC-TV18: India’s leading business news channel, CNBC-TV18 offers the most comprehensive coverage of businesses, the economy and the financial markets. Catch all your favourite shows, exclusive videos, big-ticket interviews and more here.
You can also connect with CNBC-TV18 News Online
Catch the latest news: https://bit.ly/2YbpXBM
Follow CNBC-TV18 round the clock: https://www.cnbctv18.com/live-tv/
Stay updated with all the market action in real time: https://www.cnbctv18.com/market-live/
You can also stay updated with all the latest news on-the-go with CNBC-TV18 Minis: https://www.cnbctv18.com/minis/
n18oc_business