Market Analysis: GOLD 6/17/2014

Gold Slips Before Fed

Gold fell on Tuesday as geopolitical concerns eased and investors withdrew money from the top bullion fund before a Federal Reserve meeting, while platinum traded flat as details of a wage pact for South Africa’s mines remained outstanding.

Gold investors were also monitoring the Fed meeting, which is seen as bearish for the metal due to prospects for a slightly hawkish outcome, Macquarie’s Turner said.

The Fed’s two-day policy meeting begins later in the day, with a statement expected on Wednesday. Markets are on the watch for any signals on when the U.S. central bank might begin raising interest rates.