Gold rises more than 1% ahead of the Federal Reserve's decision on interest

2015 16 12
SINGAPORE (Reuters) - Gold rises more than 1 percent during trading on Wednesday as investors awaited the conclusion of the Monetary Policy Committee meeting of the Federal Reserve which is expected to raise interest rates for the first time in about ten years.
It is expected on a large scale that the US central bank, which began on Tuesday a meeting of monetary policy raises a two-day interest rates by 25 basis points from record levels low, which raises the cost of opportunity lost for holders of the yellow metal, which do not generate revenue, while the dollar support.
And the Federal Reserve will announce its decision on Wednesday at 1900 GMT.
And went up in the spot price of gold transactions 1.3 percent to $ 1073.85 an ounce (an ounce) by the time 1525 GMT, after trading ended in the previous two sessions on the decline.
And it increased US gold futures for February delivery to $ 11.90 an ounce to $ 1073.50.
Said James Steel, analyst at HSBC, "gold could fall in an initial reaction to the increase (in interest rates), but since the unexpected increase in general, any wave of selling may be relatively short-term."
Among other precious metals silver jumped 2.6 percent to $ 14.12 an ounce after it was dropped earlier this week to the lowest level in more than six years at $ 13.60.
Platinum rose 2.5 percent to $ 877.00 an ounce, while palladium rose 1.2 percent to $ 571.45 an ounce