Gold Steady at $1255 ahead of U.S. Fed Decision

Gold extended losses to a third session on Wednesday as investors turned jittery ahead of the U.S. Federal Reserve’s statement on the outlook for its bond-buying stimulus.

A rebound in stock markets after Turkey raised its key interest rates, calming fears about emerging markets, also hurt safe-haven gold.

The Fed is widely expected to announce a second cut to its bond purchases at the end of its two-day policy meeting on Wednesday, after announcing an initial $10 billion cut in December.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.