Gold Gains As Investors Bet Against Fed Hike

Gold rose for a second straight session on Tuesday ahead of a two-day U.S. Federal Reserve meeting that investors are betting will leave interest rates unchanged.


Spot gold was up 0.1 percent at $1,314.18 an ounce by 1154 GMT, while U.S. gold futures were unchanged at $1,317.60.Spot gold looks neutral in a range of $1,313 to $1,319 an ounce and an escape could point a direction, said Reuters technical analyst Wang Tao.

                                                                           "Gold should remain supported as long as it holds above $1,300 an ounce ... but that level could be easily broken if the Fed surprises with a rate hike tomorrow," ActivTrades chief analyst Carlo Alberto de Casa said.

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