Futures contracts of gold on the COMEX were up in early Asian trade, as the confusion within the US Federal Reserve regarding a near-term rate hike was seen as a buying opportunity. The minutes of the Fed's meeting in July, which were released on Wednesday, showed that the members were divided over the near-term rate hike in the US. The Fed members also raised concerns over the inflation running below the target of 2%. The December gold contract was up 0.8% at $1,292.90 an ounce. During the day, traders would be eyeing the US unemployment claims data for further triggers on the health of the US economy and its impact on the dollar and gold.
Source: Newswire
More will update soon!!
