Gold retreated amid profit-taking

Market news

28 January 2016

Gold retreated amid profit-taking

Gold is currently at $1,120.70 (+0.44%). Prices slid amid profit-taking after yesterday's gains, which were generated by the dovish tone of the Fed's statement. The Federal Reserve admitted that economic growth slowed. However the central bank indicated that interest rates could still be raised in March.

Physical demand supported gold as consumers in China prepared for the Lunar New Year celebrations.

Oil prices declined

Global Stocks: U.S. stock indices declined

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