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Business

REUTERS
June 14, 2018

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Gold lowers

Bengaluru : Gold prices were little changed on Wednesday ahead of the U.S. Federal Reserve´s policy decision which could give cues on future rate hikes.

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Spot gold was nearly unchanged at $1,295.22 per ounce at 0051 GMT. U.S. gold futures for August delivery were 0.1 percent lower at $1,298.80 per ounce.

The dollar index against a basket of six major currencies inched up 0.03 percent to 93.834 after rising 0.24 percent the previous day.

The dollar was 0.1 percent higher at 110.42 yen after touching 110.54, its highest since May 23.

With the Federal Reserve virtually guaranteed to raise interest rates at its two-day meeting this week, investors are focused on how the U.S. central bank characterizes its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion.

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