Gold prices traded near a one-month high on Tuesday as the dollar languished at a more than one-year low ahead of a Federal Reserve meeting that is expected to provide more clues on US monetary policy. The market is not expecting a rate increase to result from the Fed’s two-day meeting, starting on Tuesday, but it is looking for hints on the timing and extent of future moves. Spot gold eased 0.1% to $1,252.60 an ounce at 9.16am GMT. The metal had touched $1,258.79 in the previous session, its highest since June 23. US gold futures climbed 0.1% to $1,257. "The market is looking for clarity on the Fed’s tightening cycle and when they are going to start with the tapering [of monetary stimulus]," said ETF Securities analyst Martin Arnold. Taking the shine off gold slightly, investors climbed into European equities. The US dollar hovered near a 13-month low against a basket of currencies on Tuesday, with traders not expecting the Fed meeting to alter the currency’s recent weakness. Also ...
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