Futures Market News
Gold futures fluctuate as Fed officials prepare speeches
Mar 19, 2012 09:35 AM
But the commodity and the currency are likely to be influenced this week by speeches from Ben Bernanke and William Dudley, the U.S. Federal Reserve chair and a policy maker, respectively. Dudley also is president of the New York Federal Reserve Bank.
The yellowish metal also will be subject to doubled expenses for duties when imported to India, which trails only China for globe's largest importer of bullion.
"I see some light selling from Thailand. It's very light. I would think some people are waiting for prices to go down to the $1,650 level," a dealer in Singapore told Reuters.
Gold futures, during their first session after enduring 3 percent losses last week, at one point climbed a half percentage point, according to Reuters.
At 10:48 a.m. on Monday, gold futures advanced 0.4 percent, a $6.70 lift to $1,662.50 per troy ounce.
The record price for gold futures is $1,923.70 per troy ounce, set in early September of last year.
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