Gold Steady Ahead of Fed's Rate Decision
Gold is steady in the early Asian trade as markets await the Federal Reserve's rate decision, where a rate-cut is widely expected.
The monetary policy's future path remains uncertain, particularly due to potential inflationary pressure concerns, FlowCommunity's Ruben Ferreira writes in a note.
Coming policy decisions from other major central banks such as the Bank of Japan are among factors that could influence the precious metal's trajectory in the coming months, Ferreira says. Gold typically has an inverse relationship with interest rates, with high rates damping demand for non-interest-bearing bullion. Spot gold is flat at $2,647.01/oz.
Source : Dow Jones Newswires