Gold edges up as rate-hike fears ease; Fed rate decision in focus

Spot gold rose 0.4 percent to $4,348.93 per ounce as rate-hike fears eased, with investors awaiting the US Federal Reserve policy decision later in the day. The World Gold Council reported a record 45 percent of reserve managers surveyed expect to increase gold holdings over the next 12 months. Spot silver gained 0.4 percent to $70.47, platinum rose 0.9 percent, and palladium was up 0.6 percent.