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Gold eases ahead of expected U.S. rate rise

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold edged lower on Wednesday, pressured by a slightly stronger dollar, but activity was muted ahead of a Federal Reserve policy announcement that could trigger a sharp move in prices. Investors expect the Fed to raise interest rates but want to know if it intends to tighten policy four times in 2018 or three times, as it indicated earlier this year. A clear hint in the announcement at 1800 GMT could knock gold out of the tight range of about $1,290 to $1,305, in which it has been trapped since mid-May.More rate rises would hurt gold because they push up bond ...

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First Published: Wed, June 13 2018. 16:15 IST
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