MTECHTIPS;-Gold slips from 1-month high as Fed meets

MTECHTIPS;-Gold slips from 1-month high as Fed meets

MTECHTIPS-Gold prices slipped from their highest level in around a month in North American trade on Tuesday, as market players looked ahead to the Federal Reserve’s policy meeting for any new insight on the timing of the next U.S. rate hike and clues on how the central bank plans to pare back its balance sheet. Comex gold futures were at $1,252.99 a troy ounce by 8:20 AM ET (1220 GMT), down $1.25, or about 0.1%. It touched its highest since June 26 at $1,259.00 in the prior session. Gold prices finished a few cents lower on Monday, ending a six-session win streak. The Fed kicks off its two-day policy meeting later in the day, at which it is not expected to take any action on interest rates. Market players will pay close attention to details of when and how the U.S. central bank will start reducing its $4.5 trillion balance sheet, while looking for clues on the timing of the next rise in borrowing costs. According to Investing.com’s Fed Rate Monitor Tool, conviction for another rate hike before the end of the year has faded, with just 35% of market players expecting another move by December, as the subdued inflation outlook raised doubts over whether policymakers will be able to stick to their planned tightening path

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119