Precious metals drifted as traders await Wednesday’s Federal Reserve meeting. Palladium held near $1,900 an ounce after smashing fresh records Tuesday.
Spot gold edged 0.2% higher to $1,467.24/oz by 10:15am in London.Spot silver, platinum and palladium also little changed. Bloomberg Dollar Spot Index up 0.1%.
While the Fed is widely expected to keep rates unchanged at its final gathering of the year, commentary from the policy makers will be closely watched for clues on further moves. Also in focus are Thursday’s election in the U.K. and the U.S.-China tariff deadline.
Exchanged traded funds backed by precious metals all saw outflows in the last trading session, according to the most recent data compiled by Bloomberg. ETF holdings of silver have dropped to the lowest since August.
Source : Bloomberg