Commodities
Gold Edges Up Ahead of Fed Rate Decision
Gold prices edged up to $4,323.88 an ounce on Wednesday as investors turned their attention to the US Federal Reserve's upcoming policy announcement.
The FedWatch tool reports a 92.4% probability of a rate increase of at least 25 basis points later in the day, which is largely factored into market expectations.
Rising interest rates tend to diminish gold's appeal by increasing the cost of holding an asset that generates no yield.