Mixed finish for bullions

Silver shines but gold turns pale

Bullion prices settled with a modest loss on Tuesday, 15 December 2015, the day before a key interest-rate decision from the Federal Reserve that may help determine the outlook for the precious metal.

February gold shed $1.80, or 0.2%, to settle at $1,061.60 an ounce on Comex, ending at its lowest level since 3 December 2015. It traded between a low of $1,057.40 and a high of $1,067.90 during the session.

March silver gained 7.5 cents, or 0.6%, to $13.77 an ounce.

The Federal Open Market Committee's two-day policy-setting meeting ends Wednesday, and the group is expected to raise interest rates for the first time in nearly a decade.

Among economic news expected for the day, it showed that falling gas and food prices kept consumer prices flat on a seasonally adjusted basis in November, according to the Bureau of Labor Statistics's consumer-price index, or CPI. Market had expected no change at the headline level.

The Empire State general business conditions index came in at negative 4.6 in December, better than 10.7 in November. Market had expected a reading of negative 7.5 for the headline index. Also, home-builder confidence slipped in December for the second month, according to data released by the National Association of Home Builders.

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