Gold settles lower as market awaits Fed meeting outcome

Gold futures settled lower Tuesday, giving up most of their gains from a day earlier as investors awaited the outcome of the Federal Reserve’s two-day meeting on monetary policy.

Gold for August delivery on Comex GCQ5, -0.14%  fell $4.90, or 0.4%, to settle at $1,180.90 an ounce. Prices settled with a gain of 0.6% on Monday. July silver SIN5, -0.19%  lost 11.8 cents, or 0.7%, to $15.965 an ounce after tacking on 1.6% a day earlier.

“The indecisiveness of the price of gold really reflects the wait-and-see mode of traders,” said Taki Tsaklanos, head of research at Secular Investor.

Gold has continued to trade in a tight trading range as last week, with breakout and breakdown levels at $1,165 an ounce on the downside and $1,220 an ounce to the upside, he said.

Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my