Gold fell after comments from U.S. Fed Chairman Jerome Powell dashed hopes of a near-term rate cut, boosting the dollar and treasury yields.
The Fed held interest rates steady, but emphasized on the rhetoric that it does not see a readjustment of rates in the near term.
India’s gold demand is expected to rise in the June quarter from a year ago due to a higher number of auspicious days for weddings and a fall in local prices ahead of a key festival.
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