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Market Outlook:-
- Gold steadied on Tuesday after falling for three days.
- Spot gold was trading up 0.1 percent at $1,244.3 an ounce by 0059 GMT.
- U.S. gold was up 0.1 percent at $1,245.30 a tonne.
- The United States may be in line for an interest rate hike as soon as April.
- Asian stocks wobbled on Tuesday as the hawkish comments from Fed officials stoked uncertainty about policymakers' intentions less than a week after Fed Chair Janet Yellen had set out a more cautious path to rate increases this year.
- Sale of 135,148 ounces of gold bullion at average price of $1,260/ounce for proceeds of $170.3 million.
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MCX Market Tips
Gold rate gained in Asia on this Thursday traders parsed the Fed language for the signs of a more hawkish sight on rate hikes in the 2018. The Federal Reserve (FR) left interest charges unchanged at the end of its 2-day policy gathering on this Wednesday, keeping them in a choice between 1.25% to 1.50%.
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