WASHINGTON (dpa-AFX) - Gold futures fell for a third day in a row Tuesday despite expectations the Federal Reserve will relent from hiking interest rates tomorrow.
Federal Reserve Chair Janet Yellen's last policy meeting is not expected to deliver any change or surprise for investors, but many will be paying attention for clues about future rate hike.
Some say the Fed will signal a modest rate hike is coming in March.
March gold futures were 0.4% lower at $1,335.40 an ounce, easing further from a recent yearly peak.
Consumer confidence in the U.S. rebounded by more than expected in the month of January, according to a report released by the Conference Board on Tuesday.
The Conference Board said its consumer confidence index climbed to 125.4 in January from an upwardly revised 123.1 in December.
Economists had expected the consumer confidence index to rise to 123.6 from the 122.1 originally reported for the previous month.
The bigger than expected increase by the headline index came as the expectations index jumped to 105.5 in January from 100.8 in December.
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