Gold holds near a 14-month high as investors await the outcome of the U.S. Federal Reserve’s meeting later Wednesday, with the central bank widely expected to join its European counterpart in striking a dovish tone.
Bullion for immediate delivery trades steady at $1,345.91 an ounce at 7:05 a.m. in London. The metal jumped as much as 1.1% on Tuesday to near the 14-month high reached last week after indications of more stimulus from the European Central Bank. Holdings in gold-backed exchange-traded funds expanded to the highest since February.
Source : Bloomberg