Metals Stocks: Gold turns higher as soft economic reports raise doubts about Fed moves after Wednesday

Gold prices turned higher Wednesday, and their return to green, if it holds, would snap what had been a fifth-straight decline ahead of what is widely expected to be the Federal Reserve’s second interest-rate hike of the year due to be announced this afternoon.

Gold reversed an earlier decline when two soft economic reports, one covering weakening consumer prices and the other a drop in retail spending, hit the tape. The reports aren’t seen delaying a likely Fed hike Wednesday, although could frame the conversation on the aggressiveness of Fed policy moving forward.

There was little obvious boost to haven gold in the immediate wake of reports of a Washington, D.C.

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