Gold prices are modestly higher in early U.S. trading Wednesday, on a corrective rebound from the selling pressure seen Tuesday. Some position squaring is also seen ahead of the conclusion of the FOMC meeting Wednesday afternoon. There is some safe-haven demand for gold amid this week’s steep slide in the Russian ruble. February Comex gold was last up $6.90 at $1,201.20 an ounce. Spot gold was last up $5.50 at $1,201.00. March Comex silver last traded up $0.153 at $15.905 an ounce.
