LONDON: Gold prices were steady on Wednesday, aided by a weaker dollar ahead of a US Federal Reserve policy announcement that could signal whether it will raise interest rates for a third time this year.

Spot gold was flat at $1,311.21 an ounce by 1345 GMT, having hit a 2-1/2 week low on Monday at $1,304.10. US gold futures for December delivery were up 0.4 per cent at $1,315.20.

“The dollar is under pressure ahead of the Fed,” said ABN AMRO analyst Georgette Boele.

Silver was down 0.3pc at $17.27 an ounce, platinum lost 0.1pc to $947.50 and palladium was down 0.4pc at $904.50.

Published in Dawn, September 21st, 2017