LONDON: Gold steadied on Tuesday near 5-1/2-year lows as markets braced for this week’s two-day Federal Reserve meeting, at which policymakers are expected to give further clues on the timing of a US rate increase.

Spot gold was at $1,092.90 an ounce at 1147 GMT, little changed from late Monday, while US gold futures for August delivery were down $4.30 an ounce at $1,092.10. Gold hit a low of $1,077 on Friday, its lowest since early 2010, in a fifth week of losses.

Silver was up 0.1pc at $14.55 an ounce, platinum was down 0.5pc at $974.35 an ounce, and palladium was up 0.5pc at $614.50 an ounce.

Published in Dawn, July 29th, 2015

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