Gold Holds Near Two-Month High Ahead of Fed Policy Decision
- U.S. central bank to signal interest-rate liftoff in March
- Ukraine tension rising, IMF cuts world growth forecast
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Gold held near the highest level in more than two months as investors awaited the outcome of a U.S. Federal Reserve meeting that could offer more clues on the outlook for monetary policy tightening.
Fed Chair Jerome Powell and his fellow policy makers are expected to signal their first interest-rate hike since 2018, setting the stage for a March move to cool red-hot inflation. The Federal Open Market Committee is all but certain to hold its benchmark rate near zero after the two-day meeting that ends Wednesday, while sticking to a plan to end its bond-buying program in March.