PRECIOUS-Gold hits one-week high after Fed fails to signal taper timeline
By Reuters Staff 2 Min Read July 29 (Reuters) - Gold prices rose to its highest level in over a week on Thursday after the U.S. Federal Reserve failed to give a timeline for its tapering plans and said it was “ways away” from considering raising interest rates. FUNDAMENTALS * Spot gold rose 0.5% to $1,815.56 per ounce by 0129 GMT, having earlier hit a peak since July 20 at $1,817.35. * U.S. gold futures climbed 0.9% to $1,815.30 per ounce. * While the U.S. central bank acknowledged discussing the eventual withdrawal of pandemic-era monetary policy support in its statement, Chairman Jerome...