Photo: AFPBengaluru: Gold held steady on Tuesday as investors remained cautious ahead of a two-day US Federal Reserve meeting that is likely to provide hints on the central bank’s interest rate policy for the remainder of the year. While a rate hike in the meeting is a given, people are waiting to hear if the Fed could raise rates again in September or any other time, Leung noted. Higher rates could boost the dollar, making commodities priced in the greenback more expensive for holders of other currencies. Silver slipped 0.3% to $16.87 an ounce after falling 1.4% on Monday in its biggest one-day percentage decline since 18 May. The metal had also touched a three-week low of $16.80 an ounce in the previous session.

Source: Mint June 13, 2017 06:45 UTC