Gold dips pressured by stronger dollar; focus on Fed policy

DENGALURU: Gold prices edged lower on Wednesday, weighed by a firmer dollar, as markets awaited the US Federal Reserve’s monetary policy decision and developments around a stimulus package in the world’s largest economy.

Spot gold dipped 0.2 percent to $1,846.42 per ounce by 0349 GMT. US gold futures eased 0.3 percent to $1,845.30.

“Gold appears to be in a holding pattern as investors are waiting for the Fed,” said Jeffrey Halley, a senior market analyst at OANDA.