Gold today fell from three-week high as investors awaited the US central bank’s latest policy statement amid concerns that Europe’s debt crisis may worsen.
Gold lost 0.1 per cent to USD 1,610.85 an ounce.
It reached USD 1,615.76 yesterday, the highest since February 26. However, silver was up 0.1 per cent at USD 28.94 an ounce.
The European Central Bank pledged to provide liquidity to Cyprus after the nation’s lawmakers rejected an unprecedented levy on bank deposits, throwing into limbo a rescue package designed to keep it in the euro.
Gold is down 3.8 per cent this year amid signs the US economy is improving. The Federal Reserve ends a two-day
policy meeting today.
Cypriot lawmakers rejected the USD 7.5 billion bank-deposit levy that had been proposed in return for 10
billion euros in external aid. (Bloomberg)
—-PTI