Tuesday, 18 February 2020
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Gold Prices Edge Higher with Fed Meeting on Tap; Palladium Hits Record
Tuesday, 19 March 2019 20:00 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices edged higher on Tuesday, buoyed by expectations the Federal Reserve will reinforce its dovish approach toward further interest rate hikes at its upcoming policy meeting.

Comex gold futures rose $7.75, or around 0.6%, to $1,309.25 a troy ounce by 8:25AM ET (12:25 GMT).

Meanwhile, spot gold was trading at $1,309.43 per ounce, up $5.75, or 0.45%.

The Federal Reserve's Federal Open Market Committee (FOMC) begins its two-day policy meeting, with a decision due Wednesday afternoon.

Spot palladium was up 1.4% at $1,599.11 an ounce, having hit a record high of $1,601.45 earlier in the session.

Elsewhere, silver futures tacked on 10.6 cents, or about 0.7%, to trade at $15.42 a troy ounce, while platinum gained 1.7% to $848.10 an ounce.

Source: Investing.com

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