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Gold today traded near the lowest in almost three weeks as investors weighed the US Federal Reserve’s indication that it will raise interest rates next year against the crisis over Ukraine.
Gold fell 0.38 per cent to $1,325.50 an ounce, the lowest since February 28. Silver fell 1.2 per cent to $20.37 an ounce, the lowest since February 13.
Bullion fell 1.9 per cent yesterday as US policy makers cut monthly bond—buying by $10 billion and said they will slow purchases in “further measured steps“.
The US central bank discarded a jobless—rate threshold for considering when to increase borrowing costs and said it will look at a wider range of data.
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