Tuesday, 14 March 2017

Gold Prices Steady Ahead Of Fed Meeting




















Gold prices were steady on Tuesday, with investors waiting for the start later in the session of a two-day Federal Reserve meeting where the U.S. central bank is widely expected to raise interest rates.

FUNDAMENTALS

* Spot gold had edged down 0.1 percent to $1,202.36 per ounce by 0057 GMT.

* U.S. gold futures were down 0.1 percent at $1,202 per ounce.                      

* Fed policymakers on Tuesday gather for a two-day meeting that is expected to end with the central bank raising interest rates for the second time in three months.

* The statement from the Fed, due to be released Wednesday at 1800 GMT, will be followed by a briefing at 1830 GMT.


* China's central bank does not have a "bottom line" for either the yuan exchange rate against the dollar or foreign exchange reserves, a senior official told Reuters in an interview.

* The Bank of Japan is expected to keep monetary policy steady on Thursday and stress that inflation is nowhere near levels that justify talk of withdrawing massive stimulus, as weak consumer spending casts a cloud over an otherwise healthy pick-up in the economy.

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