Gold Holds Advance as Key Fed Policy Decision Awaited

gold oil price


Gold holds a gain before the Federal Reserve’s final policy-setting meeting this year, with investors watching for clues on the path of interest rates in 2019.
The Fed needs to deliver on a more dovish stance to avoid disappointing financial markets, according to Mark Haefele, chief investment officer for UBS Global Wealth Management. President Donald Trump issued a fresh appeal to the Fed to avoid making “yet another mistake” just hours before the central bank started its gathering.
On the trade war front, the U.S. and China are planning to hold meetings in January to negotiate a broader truce, but are unlikely to have any face-to-face contact before then, according to Treasury Secretary Steven Mnuchin. (bloomberg)

U.S. oil prices rose on Wednesday to claw back part of their more than 5 percent losses from the previous session, with worries about oversupply and a slowing global economy keeping markets under pressure.
U.S. crude oil had climbed 37 cents, or 0.8 percent, to $46.24 per barrel by 01:22 GMT, after plunging 7.3 percent the day before in a session when it touched its lowest since August last year at $45.79. (reuters)


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