Mumbai, June 18 -- COMEX Gold futures came under pressure yesterday as the US Fed leaves rates unchanged for the 4th straight meeting. However, 9 out of 18 officials expect at least one rate hike this year. Fed has lowered its median 2026 US GDP projection from 2.4% to 2.2%. Fed now sees PCE inflation not returning to its 2% target until 2028 and noted that inflation "remains elevated" relative to goal. This slightly hawkish commentary has pushed up the US dollar index above 100 mark and Gold futures are trading at $4338 per ounce, down around 1% on the day.
Published by HT Digital Content Services with permission from Capital Market....