Post #150706

Gold hovers above $2,000 as Fed rate decision looms Gold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve's interest rate decision due later in the day. Spot gold held its ground at $2,017.54 per ounce by 0335 GMT after rising more than 1% in the previous session, as yields dropped on renewed fears of contagion in the U.S. banking sector. U.S. gold futures were up 0.2% at $2,026.50. The Fed's rate decision will be announced at 1800 GMT. Investors mostly expect the U.S. central bank to raise interest rates by 25 basis points, but are looking for clues on its next steps. read more