Gold Keeps to a Tight Range as Fed Meeting Looms

Image Credit: Google  Image Credit: Google 

Gold prices were little changed on Wednesday, staying near a more than one-week high as investors awaited the outcome of the Federal Reserve meeting later in the day.

Image Credit: Google 

The Fed is widely expected to leave interest rates unchanged at its two-day policy meeting that ends on Wednesday. 

Image Credit: Google 

However, traders will be closely watching the central bank's statement for clues on the outlook for interest rates.

Image Credit: Google 

Gold was little changed at $1,292.76 a troy ounce by 08:15 GMT, after earlier touching a high of $1,293.36, its highest level since January 3.

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The metal has gained nearly 1 percent so far this year as concerns about U.S.-China trade tensions and a slowing global economy have boosted demand for safe-haven assets.

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Palladium was down 0.4 percent at $1,557.50 an ounce, having earlier hit a record high of $1,563.50. 

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Silver fell 0.3 percent to $15.66 an ounce and copper dipped 0.2 percent to $2.75 a pound.

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Gold prices held steady on Wednesday as investors awaited the outcome of the Federal Reserve meeting later in the day.

Image Credit: Google 
Image Credit: Google 

The Fed is widely expected to leave interest rates unchanged at its two-day policy meeting that ends on Wednesday. 

Image Credit: Google 

However, traders will be closely watching the central bank's statement for clues on the outlook for interest rates.

Image Credit: Google 

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