(MENAFN- ProactiveInvestors)
Gold futures in New York were steady overnight as investors awaited the conclusion of the U.S. Federal Reserve’s two-day monetary policy meeting for any clues as to when the central bank will lift interest rates.
August gold eased US$0.20 to settle at US$1096.20 an ounce on the Comex after closing yesterday with a 1% gain.
Gold buyers will be keeping an eye on the Federal Open Market Committee’s two-day meeting which ends tomorrow.
Investors will be waiting to gather more signs of the timing of the first rate hike in nearly a decade which would impact gold prices since higher rates can diminish the appeal of the precious metal which doesn’t bear interest.
In other metals trading September silver meanwhile settled up 0.3% at US$14.642 an ounce.
September copper rallied 2.1% to US$2.403 a pound.
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