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Gold edges up to 5-month peak on softer dollar, investors await Fed outlook

The Federal Reserve is widely expected to raise interest rates for the fourth time this year

Singapore  |  Crude Oil Prices  |  United States

Reuters  |  Bengaluru 

Gold prices edged higher to a more than five-month peak on Wednesday as a softer dollar supported the bullion while investors awaited cues on the rate hike trajectory of the US central bank from its two-day policy meeting. Spot gold was up 0.1 per cent at $1,250.20 per ounce, as of 0405 GMT, after hitting its highest since July 11 at $1,251.06 earlier in the session. US gold futures were up 0.1 per cent at $1,254.60 per ounce. "The market is largely in a holding pattern as everyone is focusing on the FOMC (Federal Open Market Committee) meeting... We see prices largely ...

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First Published: Wed, December 19 2018. 09:56 IST