Gold down on profit-taking as stocks rally after Fed holds rates

September 22, 2016 5:37 AM

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Gold down on profit-taking as stocks rally after Fed holds rates

BENGALURU Gold prices edged lower on Thursday as investors booked profits after a 1.5 percent rise in the previous session, opting for riskier assets like equities after the U.S. Federal Reserve held interest rates steady at the end of a two-day policy meeting.

The U.S. central bank, however, strongly signalled it could still tighten monetary policy by year-end as the labour market improved further.

Also read: U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6%

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