Gold Trades Near Three-Week Low On Higher Risk Appetite As U.S. Fed Meets

Gold prices on Wednesday were near a three-week low hit in the previous session as investors sought higher returns from riskier assets and the dollar firmed as markets waited for cues that the United States may raise interest rates. Spot gold was down 80 cents at $1,256 per ounce, as of 0327 GMT. Bullion on Tuesday hit $1,251.37 per ounce, its lowest since April 10. U.S. gold futures were little changed at $1,257.30 an ounce. Asian stocks followed global indexes higher on Wednesday, as strong earnings and manufacturing data boosted risk appetite.

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