Gold Holds Advance as Key Fed Policy Decision Awaited
Wednesday, 19 December 2018 11:08 WIB | PRECIOUS METALS |GOLDEMAS

Gold holds a gain before the Federal Reserve™s final policy-setting meeting this year, with investors watching for clues on the path of interest rates in 2019.

The Fed needs to deliver on a more dovish stance to avoid disappointing financial markets, according to Mark Haefele, chief investment officer for UBS Global Wealth Management. President Donald Trump issued a fresh appeal to the Fed to avoid making œyet another mistake just hours before the central bank started its gathering.

On the trade war front, the U.S. and China are planning to hold meetings in January to negotiate a broader truce, but are unlikely to have any face-to-face contact before then, according to Treasury Secretary Steven Mnuchin.

Spot gold as much as +0.1% to $1,251.02/oz, highest level since Dec. 10, and traded at $1,249.30 at 9:28am in Singapore.

Source : Bloomberg

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