Gold hits two-week high as dollar tumbles on dovish Fed

Singapore (Mar 18)   Gold rose to its highest in nearly two weeks on Thursday after the US Federal Reserve signalled a slower pace of interest rate hike and gave a cautious outlook for the US economy.

 The Fed's dovish stance sent the dollar lower although the greenback clawed back some lost ground in afternoon trading in Asia.

 Spot gold was little-changed at $1,167.40 an ounce by 0804 GMT, after earlier climbing to $1,177.46, its highest since March 9.

 Source: EconomicTimes