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Gold below 12-week high

Gold below 12-week high

LONDON: Gold steadied below a 12-week peak on Wednesday as investors remained cautious ahead of the Federal Reserve’s first policy statement of the year, which is expected to give clues on interest rates.

While the US central bank is likely to keep key rates unchanged at the conclusion of its two-day meet later in the day, investors are keen to see its latest outlook on global economic headwinds.

Spot gold was down 0.2 per cent at $1,117.46 an ounce by 1437 GMT, within sight of Tuesday’s peak of $1,122.90, its strongest since Nov. 3.

US gold for February delivery was also down 0.2pc at $1,117.90 per ounce.

Spot silver slipped 0.2pc to $14.46 an ounce, platinum rose 0.5pc to $878.60 and palladium was up 0.6pc at $492.70.

Courtesy : Dawn News



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