Gold Ends Lower Ahead Of Fed Policy Statement

Gold futures finished lower Wednesday, ahead of a closely watched monetary policy statement from the Federal Reserve, which could set the tone for the precious metal. February gold finished $4.40, or 0.4%, lower at $1,115.80 an ounce. Comments from the Fed suggesting a slower pace of rate hikes during a tumultuous period for global stock markets, may be supportive for gold prices. So far, gold has gained 5.4% in 2016, according to FactSet data. Gold futures typically settle about half an hour ahead of the Fed statement slated for 2 p.m. Eastern.