Gold Books Its First Gain In 6 Sessions As Dollar Falls

By Mark DeCambreMarketsMarketWatch Pulse

Gold settled higher Wednesday, booking its first gain in six sessions ahead of what is widely expected to be the Federal Reserve's second interest-rate hike of the year due to be announced at 2 p.m. Eastern Time. August gold finished up $7.30, or 0.6%, at $1,275.90 an ounce, as the dollar, as measured by the ICE U.S. Dollar Index , was down 0.5%. A weaker dollar can make assets priced in the currency, like gold, more attractive to buyers using weaker monetary units.

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