World Economy

Gold Advances

Gold AdvancesGold Advances

Gold rose for a second day as traders kept on the sidelines ahead of a highly anticipated Federal Reserve meeting (Dec. 15-16) that’s likely to result in the first US interest rate increase in almost a decade, Bloomberg reported. Bullion for immediate delivery gained as much as 0.5% to $1,066.55 an ounce and was at $1,064.71 by 12:12 p.m. in Singapore, according to Bloomberg generic pricing. Gold has edged higher after a drop on Monday that saw it fall as much as 1.5% to $1,058.95, the lowest since Dec. 4. The metal is heading for a third annual decline.