Gold drops for third day as commodities fall before Fed meeting

Gold declined for a third day as commodities continued to sell-off ahead of a key Federal Reserve meeting where policy makers are set to raise interest rates. 

Bullion has eased after rallying to within $5 of a record last week as Russia’s invasion of Ukraine caused commodities to surge, threatening a combination of low growth and high inflation. Prices of key products including oil have cooled since then, easing those concerns. 

Months of speculation about a new wave of interest-rate hikes look to be coming to a head on Wednesday, when the US central bank is expected to begin tightening. The Fed