Most Asian markets higher ahead of FOMC, gold hovers around $1,320

The big event for the day is FOMC rate decision. Most Asian markets are trading on a higher note. Gold and silver were lower in early of Asia but somehow managed to erase previous losses. Gold was currently trading around $1,319 and silver was trading around $19.57 marks.

Japan’s Nikkei 225 was trading 1.41 percent higher at 16,614 points.

South Korea’s Kospi was trading 0.25 percent lower at 2,022.17 points.

Chinese markets were trading in negative territory, with the Shanghai composite index to open flat at 3,050.37 points and China's CSI300 index to open flat at 3,270.08 points.

Hong Kong’s Hang seng was trading 0.32 percent lower at 22,061.15 points.

Australia's S&P/ASX 200 was almost flat at 5,537.80 points.

India’s BSE Sensex was trading 0.60 percent higher at 28,143.41 and NSE Nifty was up by 0.80 percent at 8,660.25 points.