Wednesday, 16 December 2015
Bullion Market Live update By CapitalHeight
Gold drifted in a narrow range on Wednesday as investors awaited the conclusion of a Federal Reserve policy meeting at which the U.S. central bank is expected to raise rates for the first time in nearly a decade.
A leading bullion association in India is offering free membership to jewellers across cities and small towns ahead of a planned launch of the country's first physical gold exchange.
Zimbabwe should reduce the royalty fee levied on platinum producers from the current 10 percent to help mining firms offset the impact of low prices.
Venezuelan central bank gold holdings declined in value by 24 percent between January and October, according to a central bank statement.
The metal fell to near-six-year lows earlier in the month.
Investors have already sent gold down 10 percent this year in anticipation of higher rates and the strength in the dollar.
Indian Oil Corp (IOC) will decrease the price of diesel by about 1 percent from Wednesday and that of gasoline by 0.8 percent, reflecting changes in global fuel prices.
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