Gold rises slightly ahead of Fed's interest rate decision
Sep 20, 2023
Chicago [US], September 20: Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Tuesday ahead of the Federal Reserve's decision on interest rate.
The most active gold contract for December delivery rose 0.30 U.S. dollars, or 0.02 percent, to close at 1,953.70 dollars per ounce.
The Federal Reserve's two-day September monetary policy meeting convenes Tuesday and will conclude Wednesday, with an announcement after the market's close.
Investors are waiting for the Federal Reserve's interest rate decision Wednesday. Market analysts predict that the Fed will hold rate steady.
The U.S. Commerce Department reported that U.S. overall housing starts tumbled 11.3 percent to a rate of 1.283 million units in August. Economists had forecast starts slipping to a rate of 1.440 million units.
The U.S. Commerce Department reported that U.S. privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1.543 million units, 6.9 percent above the revised July rate of 1.443 million units, but 2.7 percent below the August 2022 rate of 1.586 million units.
Silver for December delivery fell 4.20 cents, or 0.18 percent, to close at 23.456 dollars per ounce. Platinum for October delivery rose 10.10 dollars, or 1.08 percent, to close at 948.40 dollars per ounce.
Source: Xinhua
