Commodities
Gold Prices Hold Steady Ahead of Fed Meeting
The Comex screen barely moved on Friday, but what lies beneath it shifted considerably. The August Consumer Price Index came in at 3.4 percent year-on-year, close to analyst forecasts.
This restraint was itself a signal that the gold price would climb only modestly to $140.25 per gram, or $4,362 per troy ounce, as traders locked in positions ahead of the Federal Reserve's two-day policy meeting on Monday.
The Comex December futures contract settled at $4,362 per troy ounce on Thursday, with open interest remaining elevated as participants positioned for the Fed's September 15-16 policy meeting.