Commodities

Gold ends lower as dollar stabilizes

2019-03-20 19:04:25 GMT (Economies.com)

Gold prices fell during the day despite the stability of the dollar against most of the major currencies, amid the market's anticipation for the decision of the US federal Bank on monetary policy.

 

The Federal Reserve will announce its interest rate decision on expectations that it will hold unchanged at 2.5%. The bank will also unveil its forecast for economic growth and inflation.

 

Following the decision, Federal Reserve Chairman Jerome Powell will hold a press conference explaining the dimensions of the decision taken by the bank officials as well as their projections on the US and global economies.

 

By 17:45 GMT, The dollar index (against a basket of major currencies) stabilized at 96.4 points , reaching a high of 96.5 points and a low of 96.3 points.

 

At the end of the session, gold futures (April delivery) fell  by 0.4% ($4.80) and closed at $1301.7 an ounce. The precious metal hit a high of $1309.5 and a low of $1298.1 .

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