Gold hits two-week high as Fed outlook stays in focus

WORLD CAPITALS (WAM)

Gold rose to a two-week high ‌on Wednesday on technical buying as investors awaited the US Federal Reserve meeting next week for clues on the interest rate outlook.

Spot gold ​climbed 1.3 percent to $4,129.43 per ounce by 0511 GMT, having hit its highest ​level since July 7 earlier in the day.

US gold futures for August delivery jumped 1.4 percent to $4,134.50.

Among other metals, spot silver was up 1.6 percent ​at $59.71 per ounce after reaching its highest point ​since July 10 earlier in the day.

Platinum climbed 1.9 percent to $1,659.97, and palladium rose 2.2 percent to $1,310.50.