MTECHTIPS;-Gold Gains In Asia Ahead Of Fed Policy Views

MTECHTIPS;-Gold Gains In Asia Ahead Of Fed Policy Views

MTECHTIPS-Gold prices gained in Asia on Wednesday with the Fed policy review expected to follow a well-telegraphed script on interest rates and reducing the balance sheet, though some investors are looking for language that suggests a shift to a more dovish outlook. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.44% to $1,316.41 a troy ounce. Overnight, gold prices were flat on Tuesday as President Donald Trump’s threat that America would “totally destroy” North Korea if forced to defend itself or its allies did little to raise safe-haven demand as investors focused on the two-day Federal Open Market Committee which concludes on Wednesday. “If [the US] is forced to defend itself or its allies, we will have no choice but to totally destroy North Korea,” President Donald Trump said. President Trump’s latest threat to North Korea failed to garner much attention as investor focus remained on the two-day Federal Open Market Committee meeting that will conclude Wednesday with a statement on monetary policy. As well as announce plans to unwind its $4.5 trillion balance sheet, the U.S. central bank is expected to provide market participants with an insight into its thinking on additional rate hikes and the progress of the U.S. economy
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