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Gold edges higher, all eyes on Fed

Reuters  |  BENGALURU 

By Nithin ThomasPrasad and Vijaykumar VedalaBENGALURU (Reuters) - Gold inched up on Wednesday as the market waited for direction from the outcome of a two-day U.S. Federal Reserve meeting, with the central bank expected to hike interest rates and give indications on its monetary policy for the rest of the year. The Fed is scheduled to release its interest rate decision at 2 p.m EDT (1800 GMT) on Wednesday, with Chair Janet Yellen due to hold a press conference 30 minutes later.Higher rates could boost the dollar, making commodities priced in the greenback more expensive for holders of other ...

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First Published: Wed, June 14 2017. 10:37 IST
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