PRECIOUS-Gold steady as investor focus turns to Fed meet:: (WWW.COMMODITYBAZAAR.CO )

U.S. gold futures GCv1 were down 0.1 percent at $1,246 per ounce.

There are not many immediate risks at this point of time, therefore some people are holding on to their positions in gold and not liquidating, said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

“Dollar has also strengthened a little… We don’t expect gold to do much unless there’s something on the Fed decision (on rate hikes).”

The dollar index .DXY , which measures the greenback against a basket of six major currencies, was up about 0.1 percent as investor focus shifted to an expected U.S. interest rate hike next week. USD/

WWW.COMMODITYBAZAAR.CO

9720395000

Leave a Reply

Your email address will not be published. Required fields are marked *