Gold Drifts Higher Ahead of FOMC Announcement
(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.
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