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Markets, majors marginally higher

Markets have closed marginally higher ahead of today’s decision by the US Federal Reserve’s Federal Open Market Committee which is widely expected to raise interest rates.
Markets, majors marginally higher Markets, majors marginally higher Markets, majors marginally higher Markets, majors marginally higher Markets, majors marginally higher

Syrah Resources moved higher in Australian trade

Staff reporter

The spot gold price has hovered around yesterday's mark of US$1,243 an ounce after hitting a five-month low earlier on Tuesday.

The S&P/ASX 200 followed the S&P 500, FTSE 100 and Toronto indices in closing slightly higher.

Three miners were among the S&P/ASX 200 top gainers today, with Galaxy Resources (AU:GXY), Syrah Resources (AU:SYR) and Fortescue Metals Group (AU:FMG) up 6.7%, 4.4% and almost 3% respectively.

The lithium miner, graphite developer and iron ore miner had no news to report but the iron ore price is back above $70 per tonne, with 62% fines reaching $71.25/t on the London Metal Exchange yesterday.

Among the majors, BHP (AU:BHP) managed a 0.14% gain in Australia and Rio Tinto (LN:RIO) closed up 0.08% in London.

Glencore (LN:GLEN) closed 1.1% lower after an investor update, where the diversified miner and commodities trader said it was the best-placed large cap resources company for the electric vehicle revolution and was able and willing to grow its business.