Gold falls due to “disappointment” by the Fed statement

Gold falls due to “disappointment” by the Fed statement

Gold falls due to

(Reuters) – Gold lost almost 1% on Thursday after statements from the US Federal Reserve, which fell short of investors' hopes to further stimulate inflation and support the economy hit by the coronavirus.

The spot gold price fell 0.93% to $ 1.941.14 per troy ounce by 13:49 Moscow time.

“The gold market was somewhat disappointed by the lack of prospects or recommendations (on) what the Fed would do to stimulate inflation,” said Carsten Menke, analyst at Julius Baer.

Palladium fell 0.94% to $ 2,376.94 an ounce, while silver slipped 1.67% to $ 26.77 an ounce. Platinum fell 2.48% to $ 944.71.

(Nakul Iyer in Bangalore. Translated by Olga Beskrovnova. Editor Anna Kozlova)

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