Gold Steadies With Eyes On Fed Meeting Outcome

Precious-Gold steadied on Wednesday ahead of the release of Fed statement, as investors aim to get clues about the interest rates and the strength of recovery. The yellow metal hit a high of $1099.26 an ounce, while it currently trading at $1097.00, after opening at $1094.83. Gold prices are still near its lowest level in more than five years, where the Fed meeting outcome is likely to weigh on metal's movements. The Federal Reserve will end their two-day policy meeting on Wednesday, where investors will wait for any clues about the timing of raising borrowing cost.