image: Shutterstock

Gold gains as dollar drops ahead of Fed announcement

January 31, 2018

Gold futures advanced Wednesday, helped by a weaker dollar index, though were advancing even as stocks looked to reclaim a portion of the sharp declines that marked the start to the week.

All eyes turn to a Federal Reserve meeting conclusion this afternoon and clues from the readout on the course of interest-rate policy over coming months; no change to rates is expected Wednesday.

February gold futures GCG8, +0.56% rose $7.40, or 0.5%, to $1,342.80 an ounce. March silver SIH8, +1.04% surged 16 cents, or 0.9%, to $17.22 an ounce. The exchange-traded SPDR Gold Shares GLD, +0.05% rose 0.5%, while the silver-focused iShares Silver Trust SLV, +0.37% was 0.7% higher premarket.

Read More on Market Watch