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Gold firms as dollar slips

September 20, 2023 00:00:00

Gold held near a two-week peak on Tuesday, helped by a pullback in the dollar, although prices were stuck in a narrow range as focus turned to the Federal Reserve's policy meeting for updates on the interest rate outlook and economic projections.

Spot gold was up 0.1 per cent at $1,934.10 per ounce at 09:26am EDT (1326 GMT) after hitting its highest since Sept. 5 earlier in the session. US gold futures gained 0.2 per cent to $1,956.80.

The dollar index eased from a six-month peak against its rivals, making gold less expensive for other currency holders.

Elsewhere, silver rose 0.5 per cent to $23.35 per ounce, platinum gained 1.3 per cent to $945.58, and palladium climbed 2.4 per cent to $1,265.

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