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Federal Reserve Chair Janet Yellen said on Wednesday that, with the US economy close to full employment and inflation headed toward the Federal Reserve's 2 per cent goal, it ‘makes sense’ for the US central bank to gradually lift interest rates.
At the MCX, gold futures for February 2017 contract is trading at Rs 28561 per 10 grams, down by 0.80 per cent, after opening at Rs 28646, against a previous close of Rs 28791. It touched the intra-day low of Rs 28,533 (at 13:52 hours).