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Gold Rises On European Poll Worries; Investors Await Fed
Gold prices edged up on Wednesday on uncertainty over the outcome of the Dutch elections, while markets awaited clues on the pace of U.S. interest rate hikes this year. With an immediate rate increase by the Fed seen as a done deal, investors are focusing on what message the central bank will deliver when it concludes its meeting later on Wednesday. In December the Fed forecast three rate rises this year.
Spot gold edged up 0.3 percent to $1,201.64 per ounce by 0313 GMT. U.S. gold futures were down 0.1 percent at $1,201 per ounce. We do not think much will change throughout much of Wednesday ahead of the Fed rate decision and policy statement.