Gold Paused Near $1165 As Fed Preps Rate Call

Gold was flat yet again Monday, having seen little movement in the days ahead of the upcoming Federal Reserve meeting.

The Fed gathers mid-week in Washington to debate whether to raise interest rates.

They are widely expected to keep rates at zero, but may signal a modest rate hike is in the card for December.

December gold gains $3.40, or 0.3 percent, to settle at $1,166.20/oz on Comex.

New home sales in the U.S. fell by much more than anticipated in the month of September, according to a report released by the Commerce Department on Monday, with sales falling to their lowest level in ten months.

The report said new home sales tumbled 11.5 percent to an annual rate of 468,000 in September from the revised August rate of 529,000.
The material has been provided by InstaForex Company – www.instaforex.com