Gold off two-week peak as oil advances; Fed meeting in focus

Gold prices were little changed on Thursday after retreating from a two-week high reached in the previous session, as escalating tensions in the Middle East supported safe-haven demand while investors awaited next week's U.S. Federal Reserve meeting for further guidance on the interest rate outlook.

 

Spot gold was steady at $4,132.01 per ounce as of 0324 GMT, after touching $4,165.87 on Wednesday, its highest level since July 7. Meanwhile, U.S. gold futures for August delivery slipped 0.4% to $4,134.60.