Gold takes back seat ahead of ECB
Economies.com
2018-06-14 03:41AM UTC
Gold prices tilted lower on Thursday amid constant wavering and sideways trading, as traders await the European Central Bank's meeting today.
The Federal Reserve raised interest rates yesterday to below 2%, while expecting two rate hikes this year, slashing demand on gold.
The Fed cited bright outlook for US economy, in turning hurting demand on gold, a traditional safe haven in times of turmoil.
Gold inched down to $1,298.24 an ounce from the opening of $1,299.18. with an intraday low at $1,297.54, and a high at $1,301.01.
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