Gold Recovers From Two-week Low; All Eyes on Fed Meet

Singapore(Sharemasterindia.com): Gold recovered after falling to its lowest in nearly two weeks on Tuesday as investors nervously awaited a US Federal Reserve meeting that begins later in the day for clues about the timing of any interest rate hike.
The Fed is likely to announce the end of its massive bond-buying stimulus when it wraps up the two-day meeting on Wednesday. Investors will be scrutinising the Fed’s statement for signals about a rate increase and its view on the global economy.
Spot gold dropped to $1,222.20 an ounce, its lowest since October 15, before recovering to trade up 0.3 per cent at $1,228.35 an ounce by 0346 GMT.
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