Gold recovers in Asia

29 Oct, 2014

Gold recovered after falling to its lowest in nearly two weeks on Tuesday as investors nervously awaited a US Federal Reserve meeting that begins later in the day for clues about the timing of any interest rate hike. Spot gold dropped to $1,222.20 an ounce, its lowest since October 15, before recovering to trade up 0.3 percent at $1,228.65 an ounce by 0650 GMT. Gold could test resistance at $1,233 an ounce, according to Reuters technicals analyst Wang Tao.

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