Gold Scales Over 5-Month Peak, Investors Await Fed Outlook

Gold prices edged higher to a more than five-month peak on Wednesday as a softer dollar supported the bullion while investors awaited cues on the rate hike trajectory of the US central bank from its two-day policy meeting.

Spot gold was up 0.1 percent at $1,250.20 per ounce, as of 0405 GMT, after hitting its highest since July 11 at $1,251.06 earlier in the session.

US gold futures were up 0.1 percent at $1,254.60 per ounce.

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