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Gold trades near two-week high on US outlook, Greece talks

London, PTI | Updated : 23 March 2015, 07:29 PM

Gold today traded near a two-week high on speculation the Federal Reserve will delay raising interest rates and Greece may salvage a bailout deal.

Gold was little changed at USD 1,181.86 an ounce. It reached a two-week high of USD 1,188.07 on March 20.

Silver, however, declined 0.3 per cent to USD 16.69 an ounce.

Gold climbed 2.1 percent last week, the most since January, as Fed Chair Janet Yellen suggested that policy makers are in no hurry to raise rates, even as the Fed dropped a pledge to be patient on tightening.

Higher rates cut gold’s allure because the metal generally offers returns only through price gains. The dollar fell for a second day against 10 major currencies.

First Published: Monday, March 23, 2015 07:14 PM
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