Gold Steadied at $950/oz, FOMC Eyed, ETF Dipped
Gold prices steadied at around $950 per ounce on Wednesday, propped up by light short covering
ahead of the U.S. Federal Reserve’s policy statement at the end of a two-day meeting due later in the day.
Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, stated:
I think they’re squaring positions. That’s all. The Fed’s decision is tonight.
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Tue, Aug 11, 2009
Post by Melissa Pistilli, Gold Senior Reporter