Gold steadies ahead of Fed's decisions
Economies.com
2018-06-13 16:54PM UTC
Gold prices steadied after hitting week lows yesterday, as investors await the Federal Reserve's policy decisions later today.
Spot gold steadied at 06:34 GMT around 1,295.02 an ounce, after touching one-week lows at $1,229.60 an ounce yesterday.
Gold August futures slipped 0.1% to $1,298.50 an ounce.
Consumer prices rose in a modest pace in May, while producer prices accelerated considerably last month, underpinning inflation prospects this year.
Gold prices are inversely related to US rate hikes, as liquidity shifts to better yielding assets such as bonds.
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