Investing.com - Gold prices were higher to steady in early Asia on Tuesday with the focus on this week's Federal Reserve meeting and overall prospects for physical demand from China and India.
On the Comex division of the New York Mercantile Exchange, gold prices for April delivery rose 0.09% to $1,154.20 per troy ounce.
Silver, meanwhile, eased 0.10% to 15.602 a troy ounce.
Copper fell 0.04% to 2.664 a pound.
Overnight, gold future prices remained relatively stable on Monday, amid a slight rally by the euro after the currency hit record-lows last week at week’s end as metal traders await the Federal Open Market Committee’s (FOMC) meeting on Wednesday.
The Fed could provide details on when it plans to raise interest rates. The U.S. central bank can remove a reference to remaining patient, which typically indicates that an interest rate hike could occur within the next two FOMC meetings.
Gold is viewed as a safe haven for investors in periods of declining interest rates.
Over the last two weeks, the U.S. dollar has skyrocketed against the euro as the start of the European Central Bank’s EUR 60 billion a month bond buying program has coincided with expectations that the Fed will raise rates.
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Gold prices gain slightly in early Asia with all eyes on the Fed
Published 03/16/2015, 07:12 PM
Gold prices gain slightly in early Asia with all eyes on the Fed
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