Gold edged up to a seven-month high on Tuesday, as the dollar weakened ahead of a two-day U.S. Federal Reserve meeting, which will likely keep interest rates steady, and on worries over a rise in Sino-U.S. trade tensions.
Spot gold rose to its highest since June 14 at $1,304.53 in morning trade, and was up 0.1 percent at $1,304.42 per ounce by 0115 GMT. U.S. gold futures were steady at $1,302.80 per ounce.
Investors are focusing on the Fed’s two-day policy meeting, starting later in the day, when the U.S. central bank is expected to leave interest rates unchanged. The Fed raised interest rates four times last year.
Source : Reuters