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Gold Prices Rise Above $1,300 Ahead of Fed Meeting

Gold prices rose on Monday in Asia and traded above the $1,300 mark ahead of a U.S. Federal Reserve meeting where the central bank is widely expected to leave interest rates unchanged.

Gold Futures were up 0.4% at $1,302.75 by 12:12 AM ET (05:12 GMT) on the Comex division of the New York Mercantile Exchange.

The Fed will conclude its two-day policy meeting on Wednesday and is widely expected to hold rates steady after raising them in December for the fourth time in 2018. The U.S. central bank has indicated that it will hike rates twice this year, but some officials have recently adopted a more dovish tone.

 

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