Gold price rose ahead of the release of the Fed's monetary policy meeting results on Wednesday. The Fed's monetary policy meeting begins today.

It is unlikely that the Fed will change its monetary policy at its October meeting. Market participants will closely monitor the Fed's statement for signals when the Fed will start its raising interest rates. Most market participants expect that the Fed will not start raising its interest rates this year.

December futures for gold on the COMEX today increased to 1168.80 dollars per ounce.