Gold Futures Gain 0.3% As Dollar Declines

Gold futures settled slightly higher Tuesday as the dollar slipped ahead of the Wednesday conclusion of the Federal Reserve's policy meeting. Gold for June delivery rose $3.20, or 0.3%, to settle at $1,243.40 an ounce, as the U.S. dollar declined 0.3% against a basket of major currencies. Silver for May delivery gained 10.1 cents, or 0.6%, to settle at $17.11 an ounce. Although the Fed isn't expected to raise interest rates at the end of its meeting, the wording of its updated statement and outlook for future rate hikes will influence momentum for the dollar and precious metals priced in the currency.