Tuesday, 29 March 2016
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Gold futures ended lower in the domestic market on Monday as investors remained jittery over the trajectory for US interest rates. Federal Reserve Bank of San Francisco President John Williams said that global economy was having a significant impact on measures that Fed officials gauge to determine interest rates.
At the same time, an upward revision in US fourth quarter growth to 1.4 per cent annualized pace from 1 per cent earlier signaled more optimism over the strength in the world’s biggest economy, bolstering the case for further interest rate tightening in the coming months.
Traders stuck to a cautious tone ahead of key US reports on employment, manufacturing, housing, consumer confidence and Fed Chair Janet Yellen’s speech this week, which may offer further clues over the course of US interest rates.