Free Commodity Tips - Gold futures were trading on a flattish note, with a positive bias during late morning trade in the domestic market on Wednesday as caution gripped bullion traders amidst wide spread speculation of a maiden US interest rate hike since 2006, next week at the US Federal Reserve’s two-day monetary policy meet scheduled on December 16-17, dimming the lure for the yellow metal as a store of value.
Due to the shaky global economy, gold has hit a 3-month high. Investors are now buying safe-haven assets. There has been increasing volatility in financial markets. Furthermore, the weak U.S. macro releases have particularly been a boost for the precious metal.