Bengaluru — Gold prices drifted in a narrow range on Wednesday as investors awaited cues of the US Federal Reserve’s two-day meeting, where policymakers are expected to raise interest rates for the third time in 2018. Spot gold was up 0.1% at $1,201.64, as of 3.37am GMT, having moved in a $3 range early Wednesday. US gold futures climbed 0.1% to $1,206.0/oz. “People are waiting for cues from the Fed … I think the Fed will stay the course. But they could mention that the trade war [between China and U] could impact growth,” National Australia Bank economist John Sharma said. The Fed will end its two-day policy meeting later on Wednesday at which it is expected to raise interest rates for the eighth time since late 2015. Investors are also counting on another rate hike before year-end, although the outlook for 2019 is less clear. “The Fed may incite recent softness in housing and auto sales, as well as a rather mixed ‘Beige Book’ survey out last week that could conceivably justify mod...
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