Gold Investing News » Gold Steadied at $950/oz, FOMC Eyed, ETF Dipped

Gold Steadied at $950/oz, FOMC Eyed, ETF Dipped

August 11, 2009 @ 9:44 pm In Gold Market News,Services

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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[1] here: http://www.reuters.com/article/goldMktRpt/idUST21754020090812