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Gold Prices Hold Steady Ahead of Federal Reserve Decision

Guavy AI Editorial Team
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USD
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Gold prices held steady on Wednesday as investors awaited the U.S. Federal Reserve's policy decision and comments from Fed Chairman Kevin Warsh for clues on inflation and interest rate outlooks.

Spot gold was little changed at $4,024.54 per ounce by 0448 GMT, while U.S. gold futures for August delivery dipped 0.4% to $4,023.30.

A senior market analyst at OANDA said that 'Gold is very much connected to today's FOMC meeting... The scenario that may see a potential reversal of the recent bearish bias in gold prices will be the Fed turning to a less hawkish rhetoric.'

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