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* Federal Reserve maintains stable interest rates
* Platinum hits the lowest in a month
* The money floats by a low of more than four months
* Markets Review Non-Farm Payroll Data in the United States by Friday (Add Comment, Update Prices)
By K. Sathya Narayanan
May 2 (Reuters) – Gold has fallen to its lowest level in a week on Thursday, as the US Federal Open Market Committee (FOMC) has canceled expectations of a short-term rate cut and lack of physical demand in Asia.
Spot gold sold 0.4% to $ 1,270.86 the ounce from 1018 GMT. It fell to $ 1,269.69, its lowest level since April 24, earlier in the session.
US gold futures fell 0.9% to $ 1,272.70 an ounce.
"The (gold) market is under pressure after a lack of upward tracking as prices could not exceed $ 1,290 after several attempts and the FOMC did not have anything important" said Afshin Nabavi, senior vice president of MKS SA.
In line with the expectations of most market participants, the Fed left benchmark interest rates unchanged on Wednesday.
However, investors were caught off guard when the US central bank pointed out that it saw no compelling reason to consider lowering rates in the near future due to continued job creation and economic growth.
Higher interest rates increase the opportunity cost of holding non-performing bullion and raise the US dollar, making gold more expensive for investors holding other currencies.
"In addition, the Far East market is almost closed, Japan and China have virtually disappeared throughout the week and demand from this part of the world is low," Nabavi added.
The two big centers are closed for the holidays. Trade in China will resume next Monday and in Japan next Tuesday.
Gold fell about 0.5% in the previous session, its largest single-day drop since April 16, after the Fed's statement boosted US dollar and US Treasury yields.
On Thursday, the dollar was down about 0.1% from its major rivals.
"Gold is once again under pressure despite the reduction in dollar gains, which could give an idea of the traders' mentality," said Craig Erlam, market badyst at OANDA.
"Gold was threatening to make a comeback, but the price action over the last 24 hours has not given many bulls to the optimism that seems to have made victims."
Investors are closely monitoring data from non-farm payrolls in the United States, expected Friday.
The money was flat at 14.67 dollars an ounce, staying close to a trough of more than four months touched on Wednesday.
Platinum plunged 0.5% to $ 859.40 after hitting its lowest level in a month.
Palladium slipped 0.7% to $ 1,343.55, after reaching its lowest level since Jan. 25 at $ 1,309.67. (Report by K. Sathya Narayanan and Nallur Sethuraman in Bengaluru, edited by Jason Neely)
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