Gold holds steady as wary investors await Fed meet

Jun 13, 2017, 9:06 AM EDT
(Source: Michele Ursino/flickr)
(Source: Michele Ursino/flickr)

Gold maintained a steady position on Tuesday as investors await the U.S. Federal Reserve meeting that will signal whether the central bank could increase interest rates for the remaining year.  

While a hike is almost a certainty, the main focus remains on cues if the Fed could raise interest rates again in September, notes Reuters.

Higher interest rates can lead to a weakness in the short term as a dollar rally could make holders of other currencies pay more for the commodities, writes Business Line.