COMMODITY
Gold futures settle modestly lower after Fed monetary policy
Sep-18-2020
Gold futures settled modestly lower on Thursday, as the US currency rebounded to a week high followed by Federal Reserve's decision to keep key US short-term interest rate near zero till the end of 2023 to accelerate economic recovery, weighing on dollar denominated bullion. Moreover, profit booking after three straight sessional gains also weighed on the yellow metal.

Gold futures for December delivery settled down 1.1% to $1,949.90 an ounce on the Comex division of the New York Mercantile. Spot gold dropped 0.8% to $1,943.87 per ounce.
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