FILE PHOTO: An employee sorts gold bars in the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, December 15, 2017. REUTERS/Leonhard Foeger1 February 2018: Gold prices fell on Thursday after the Federal Reserve left interest rates unchanged but hinted at hikes later this year, and as investors awaited the U.S. nonfarm payroll data for cues on the health of the world's largest economy.Spot gold was down 0.4 percent at $1,339.71 per ounce, as of 0831 GMT. It touched $1,332.30 an ounce in the previous session, its lowest since Jan. 23.U.S. gold futures for February delivery were nearly flat at $1,339.00 per ounce.The Fed said inflation is likely to quicken this year, bolstering expectations borrowing costs will continue to climb under incoming central bank chief Jerome Powell. "We remain somewhat friendly to gold in the short-term; the dollar seems to be adrift, as investors are unsure what direction to push it," said INTL FCStone analyst Edward Meir.

Source: Egypt Today February 01, 2018 08:37 UTC