Gold declines before Fed's meeting as Ukraine crisis assessed

LONDON: Gold today fell for the second day, trimming a monthly rise, as investors assessed the outlook for further cuts to the US stimulus programme against the Ukraine crisis.

Gold fell by 0.5 per cent to 1,289.59 dollar an ounce and silver by one per cent to 19.39 dollar an ounce.

European shares rose with US index futures before the Federal Reserve begins a two-day policy meeting.

Gold declined from the highest price in almost two weeks yesterday after the US and the European Union announced new sanctions on Russia.

The Fed will probably trim its monthly asset purchases by another $10 billion to $45 billion at the meeting starting today.