World shares mixed after Wall Street rally; gold retreats
The U.S. Federal Reserve is holding a two-day policy meeting starting Tuesday and Congress is considering providing more help for the American economy.
Investors are waiting to hear what the U.S. central bank says this week about the economy's prospects and what it plans to do on interest rates, analysts said. Congress, meanwhile, isn't anywhere close to agreeing on the outlines of a package even as a $600-a-week federal payment to the unemployed has expired.
The price of gold jumped to a fresh intraday high of $1,974.70 an ounce on Tuesday before retreating slightly. Soon before the start of U.S. trading, it was at $1,926.10 down $4.90. Gold usually tends to rise when worries about the economy are high. So far, company profit reports have been better than analyst forecasts, though still far weaker than a year earlier because of the recession.
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