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Commodities

Gold Prices Steady Ahead of Federal Reserve Rate Decision

Guavy AI Editorial Team
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Gold
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Gold prices remained relatively steady on Wednesday at $1,888.48 per ounce as investors took a cautious approach ahead of the Federal Reserve's monetary policy decision.

The Fed is widely expected to raise interest rates by at least 25 basis points later today, with traders seeing a 92.4% probability of this happening according to CME Group's FedWatch tool.

Frank Walbaum, a market analyst at Naga.com, warned that a hawkish stance from the Federal Reserve could lead to further declines in gold prices, while any dovish remarks might help the metal recover.

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