Gold rises one percent ahead of Fed meeting
Gold prices gained about one percent on Tuesday as lower oil prices offered support. Market participants are now awaiting the Federal Reserve policy meeting for US interest rate signals.
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Gold climbed 1% to $4,055.14 per ounce during Tuesday afternoon trading as lower Brent Crude Oil prices eased inflation worries ahead of the Federal Reserve policy meeting. The spot metal recovered from an earlier low of $3,987.14, while December futures settled 0.9% higher at $4,074.60 per ounce. Traders are weighing shifting monetary policy expectations against ongoing geopolitical conflicts in the Middle East.
