Gold futures eked out back-to-back gains Tuesday as the dollar index softened ahead of the Federal Reserve decision, which could yield a third rate increase of the year—a negative development for gold because it can bolster the dollar.
The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Gold prices based on the most-active contracts have declined by 8% so far in 2018 while the dollar index is up about 2.2%.
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