Bullion prices ended higher at Comex on Tuesday, 19 March at Comex. Gold futures ended higher on Tuesday, finishing above $1,300 an ounce for a third straight session, as traders looked to a two-day Federal Reserve meeting that's expected to see policy makers maintain a dovish stance. April gold on Comex rose $5, or 0.4%, to settle at $1,306.50 an ounce, the highest finish for a most-active contract since the month-to-date high on March 13. May silver settled 5 cents higher at $15.372 an ounce, up 0.3%. On Tuesday, the ICE U.S. Dollar Index, a measure of the currency against a basket of six major rivals, was off 0.2%. A weaker dollar can be seen as supportive for commodities priced in the unit by making them cheaper to users of other currencies. The Fed, which began its two-day meeting Tuesday, is widely expected to maintain the tone it adopted in January, when it abruptly put its rate-hike plan on pause and took a wait-and-see approach to future rate moves. Traders are also monitoring geopolitical developments, including the U.K.'s efforts to reach a deal on leaving the European Union. Prime Minister Theresa May's plan to bring her twice-rejected proposed agreement governing the U.K.'s future relationship with the EU to another parliamentary vote this week ran into a parliamentary roadblock on Monday, leading to volatile trade in the British pound but having little impact on haven-related assets like gold. Powered by Capital Market - Live News |