Gold prices flat as US Fed rate hikes, Russia-Ukraine talks dent appeal BusinessToday


Source: businesstoday.in businesstoday.in

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Gold prices were flat on Thursday, hovering near a three-week low touched in the previous session, after the US Federal Reserve's interest rate hike lifted Treasury yields and as the Russia-Ukraine peace talks also capped bullion's appeal. FUNDAMENTALS * Spot gold held its ground at $1,929.57 per ounce, as of 0128 GMT, after touching its lowest since Feb. 28 at $1,894.70 on Wednesday. US gold futures rose 1% to $1,928.40. * The US central bank raised interest rates for the first time since 2018 and laid out an aggressive plan to stamp out inflation, while flagging the massive uncertainty the...