Gold Gains for First Time in Four Sessions as Dollar Weakens
- U.S. central bankers will gather this week to assess policy
- Federal Reserve seen keeping interest rates steady: Streible
Gold Tries to Snap a Three Day Losing Streak
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Gold snapped the longest slump in three weeks as the dollar weakened, boosting the appeal of the metal as an alternative investment.
The Bloomberg Dollar Spot Index fell, ending the longest rally since January, as traders awaited the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade. Policy makers meet this week, and traders put the odds of a rate rise by December at 36 percent. Higher rates curb the appeal of gold because it doesn’t offer yields or interest.