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Gold Futures Settle Lower Ahead Of Fed Meeting
 

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday, as the dollar strengthened ahead of a widely expected interest-rate hike by the Federal Reserve.

The most active gold contract for April delivery went down 5.9 dollars, or 0.45 percent, to close at 1,311.9 dollars per ounce.

The Fed will wrap up a two-day monetary policy meeting on Wednesday, with a decision on interest rates and a press conference to follow.

The U.S. dollar index, which measures the buck against six rivals, went up 0.6 percent to 90.32 as of 1730 GMT.

Gold and the dollar typically move in opposite directions, which means if the dollar goes strong, gold futures will fall.

As for other precious metals, silver for May delivery fell 14 cents, or 0.86 percent, to settle at 16.185 dollars per ounce. Platinum for April dropped 9.4 dollars, or 0.98 percent, to close at 945 dollars per ounce.


(www.chinaview.cn 2018-03-21)
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