Gold prices were basically flat Thursday, pressured by a stronger dollar and talk of an April interest rate hike from the Federal Reserve.
St. Louis Federal Reserve President James Bullard said relatively minor downgrades to the Fed’s economic outlook suggest the next rate hike “may not be far off provided that the economy evolves as expected.”
April gold settled at $1,221.60/oz, down $2.40 for the session.
Traders weighed a flurry of mixed economic data including a pullback in durable goods orders in the month of February.
The Commerce Department said durable goods orders fell by 2.8 percent in February after surging up by a revised 4.2 percent in January.
The material has been provided by InstaForex Company – www.instaforex.com