Tuesday
Jan272015
PRECIOUS-Gold rises on soft dollar ahead of Fed policy statement
Tuesday, January 27, 2015 at 03:38PM NEW YORK/LONDON, Jan 27 (Reuters) - Gold rose 1 percent on Tuesday after two sessions of losses, as the dollar and shares eased ahead of a U.S. Federal Reserve policy meeting that may push back expectations for when U.S. interest rates will start to rise.
The Fed started its first two-day policy meeting of the year on Tuesday and investors expect it to acknowledge the uncertain global outlook and stick to its promise to be patient on tightening.
Spot gold was up 1 percent at $1,293.06 an ounce by 2:27 p.m. EST (1927 GMT). The metal had fallen 1.6 percent in the previous two sessions on strong equities and uncertainties over the Greek election.
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