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Gold fell in anticipation of the Fed's decision
31 July 2018 11:08 p
31 July 2018 11:08 p
Direct : Gold prices fell during trading on Tuesday awaited Fed decision on interest rates and ahead of economic data.
The Federal Reserve's monetary policy meeting starts today with the bank announcing its interest rate decision tomorrow amid expectations that it will remain unchanged.
The monetary tightening process leads to lower gold prices and a trend towards risky asset markets.
By 0755 GMT, the price of gold futures for December delivery fell about 0.4 percent to $ 1227 an ounce.
On the metal futures price for August delivery fell by 0.3% to $ 1217.40 an ounce.
The spot delivery price of the yellow metal dropped at $ 1218.8 per ounce by 0.2%.
The main dollar index, which measures the performance of the currency against 6 major currencies, settled during the period at $ 94.360.
The labor cost and personal income data and the Chicago Industrial Production Index are due to be released later in the day.
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