Mumbai, 30 April (CommoditiesControl): Gold prices experienced a slight decline as the dollar strengthened before the Federal Reserve's policy meeting, with U.S. spot gold down 0.2% at $2,329.69 per ounce. The U.S. Dollar rise by 0.3% made gold less appealing to international buyers.
Despite this, gold has secured a third consecutive monthly gain, driven by central bank purchases and safe-haven demand amidst geopolitical tensions.
Key events this week include the Fed's policy meeting and Friday's non-farm payrolls data. Investors anticipate the Fed to maintain its benchmark interest rate amid inflation concerns. However, any hints of a deviation from market expectations could bolster gold prices.
U.S. Gold futures were down 0.7% at $2,341.00 per ounce.
U.S. Spot silver fell 0.6% to $26.95 per ounce, while spot platinum was down 0.1% at $946.66. Both metals were set for monthly gains. Spot palladium lost 0.6% to $968.00 per ounce.
Meanwhile, MCX gold dipped by 0.51%, trading at 71236, with support levels at 71267 and 70930, while resistance levels are at 71818-72030. Investors remain vigilant for further market movements amidst ongoing economic developments.
(By Commoditiescontrol Bureau; +91-9820130172)
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