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Gold little changed as traders strap in for Fed verdict
Gold prices were stuck in a tight range on Wednesday as investors held back from making large bets ahead of much awaited U.S. Federal Reserve’s rate-hike decision later in the day. Spot gold was little changed at $1,929.07 per ounce, after falling to its lowest since Jan. 19 in the previous session. U.S. gold futures held steady at $1,929.20. “It’s pretty certain that the Fed is going to hike rates by 25 basis points,” said Michael Hewson, chief market analyst at CMC Markets. But “the risk is very much towards the downside for gold, because Powell needs to slightly reset market expectations about what’s ... (full story)