Gold Books Its First Gain In 6 Sessions As Dollar Falls

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.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below