Gold gains in Asia on Fed views, weaker dollar
Gold gained in Asia with Fed view on rates seen supportive along with a weaker dollar in the short term, though investors say Friday's nonfarm payroll data will be key for direction in the coming year. The Federal Reserve kept U.S. overnight interest rates unchanged and highlighted "solid" economic growth at the conclusion of its two-day policy meeting. Analysts said the Fed's statement indicated that a rate hike next month is overwhelmingly likely. Overnight, gold prices shrugged off a rebound in the dollar as traders continued to expect the Federal Reserve’s policy statement to show that Fed policymakers voted to leave rates unchanged at their Oct. 31- Nov. 1 meeting.
Source : Investing
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