Gold drifted in a narrow range on Wednesday as
investors awaited the conclusion of a Federal Reserve policy meeting at which the U.S.
central bank is expected to raise rates for the first time in nearly a decade.
A leading bullion association in India is offering free membership to
jewellers across cities and small towns ahead of a planned launch of the
country's first physical gold exchange.
Zimbabwe should reduce the
royalty fee levied on platinum producers from the current 10 percent to help
mining firms offset the impact of low prices.
Venezuelan central bank gold
holdings declined in value by 24 percent between January and October, according
to a central bank statement.
The metal fell to near-six-year
lows earlier in the month.
Investors have already sent gold down
10 percent this year in anticipation of higher rates and the strength in the
dollar.
Indian Oil Corp (IOC) will
decrease the price of diesel by about 1 percent from Wednesday and that of
gasoline by 0.8 percent, reflecting changes in global fuel prices.
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