Gold hovers around $1,500 ahead of US Fed meeting
Oil prices ease after Saudi says it will be at full production soon, and gold is considered a hedge against oil-led inflation
Bengaluru — Gold consolidated at around $1,500 on Wednesday, keeping to a $3 range ahead of a US Federal Reserve decision on monetary policy, while fears of oil-led inflation ebbed, limiting safe-haven inflows into bullion.
Spot gold was steady at $1,501.30 an ounce by 11.36am GMT. US gold futures dipped 0.3% to $1,508.80.