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Gold prices stay near flat line, Fed in focus

Published on Mar 22, 2023 16:32

Gold prices stay near the flat line on Wednesday, as investors are cautious ahead of the upcoming US Fed policy outcome. The recent bank collapses mainly due to the large rate hikes is expected to keep the Fed less hawkish on rates that could augur well for the yellow metal. The dollar index that measures the greenback against a basket of currencies is also seen supporting the commodity. The dollar index is quoting at 102.83 while COMEX gold is lingering at $1943.60 an ounce, up marginally on the day but off recent peaks above $2000 an ounce mark.

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