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Gold Drifts Higher Ahead of FOMC Announcement

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are modestly up and at their session highs in late-morning dealings Wednesday, on some short covering in the futures market and some position squaring ahead of this afternoon's interest rate decision from the Federal Reserve, at 2:00 p.m. eastern time.  The U.S. dollar index has moved to its daily low, which has also helped out the precious metals market bulls. August gold was last up $2.90 an ounce at $1,302.30.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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