Gold rose to a 2-month peak Tuesday morning on speculation the Federal Reserve will signal a more gradual rate hike path in light of the ailing global economy.
The 2-day FOMC meeting is scheduled to begin later today, and the policy statement is due only on Wednesday.
The central bank raised rates in December for the first time in a decade despite low inflation and a strong dollar, but analysts say that policy makers will now take a wait and see approach before further tightening.
US gold for April was up 7 dollars at $113.30 an ounce.
The material has been provided by InstaForex Company – www.instaforex.com