Forex
Gold Prices Hold Ground Ahead of Fed Rate Decision
Gold prices held their ground despite an earlier decline as investors remained cautious ahead of the Federal Reserve's interest rate decision on Wednesday. The precious metal had fallen by as much as 0.8% to near $4,040 an ounce before recovering some losses.
The markets are bracing for a potentially divisive decision from the Fed, which is torn between June's lower-than-expected inflation reading and the recent rise in oil prices due to the US-Iran conflict.
US President Trump has expressed optimism over the talks with Iran, but the Middle East hostilities have fueled concerns about inflation. However, a fragile pause in the fighting has helped soothe some of these fears.