Gold Holds Gains Near $1,500 Ahead of Fed Meeting
Tuesday, 17 September 2019 17:34 WIB | PRECIOUS METALS |GOLDEMAS Spot EmasSILVER

Spot gold clung to Monday's gains, holding close to $1,500 an ounce as investors await critical policy decisions from central banks including the Federal Reserve.

Gold rallied at the start of the week as the strike on Saudi Arabia's crude production fanned demand for havens. Still, prices are drifting close to the 50-day moving average and a breach of that technical level would be a bearish signal for some traders.

The Fed is widely expected to lower interest rates at Sept. 17-18 meeting; Chairman Jerome Powell holds a post-decision press conference Wednesday.

Policy decisions from central banks of Japan, Indonesia and England are due Thursday.

Spot gold +0.1% to $1,499.50/oz at 10:46am in London after gaining 0.7% Monday. Spot platinum falls for third consecutive day. Spot silver steady at $17.8419/oz.

Source : Bloomberg

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