Gold Slips as Markets Eye Outcome of Fed Meet

Market

Singapore, Gold prices fell on Tuesday with investors awaiting key US inflation data and the outcome of the Federal Reserves policy meeting for details of the central banks plans to cut interest rates against its inflation target.

Spot gold was down 0.3% at $2,302.89 per ounce. US gold futures fell 0.3% to $2,320.20.

The May consumer price index inflation report due on Wednesday will be the next major data point along with the Fed concluding their two-day meeting on the same day.

In other metals, spot silver fell 1.9% to $29.22 per ounce, platinum was down 0.6% at $962.20 and palladium lost 1.1% to $893.60.

Source: Qatar News Agency