Gold edges higher, eyes Fed meet

Gold ingots
Gold inched up as the market awaits for directions from the outcome of a two-day US Federal Reserve meeting. The central bank is expected to hike interest rates and give indications on its monetary policy for the rest of the year.

The Fed is scheduled to release its interest rate decision at on Wednesday, with Chair Janet Yellen due to hold a press conference later.
Spot gold was up 0.1% at USD 1,267.05 per ounce. US gold futures for August delivery were nearly flat at USD 1,268.90 an ounce.

Among other precious metals, silver was flat at USD 16.86 per ounce. Platinum rose 0.2% to USD 925.25 per ounce but closed to a near one-month low of USD 918.50 hit on Tuesday.

[Source”timesofindia”]
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