Gold Little Changed After FOMC
Gold was trading around $2,930 per ounce on Wednesday, staying close to last week’s record high of $2,947, after the Federal Reserve’s January meeting minutes.
The FOMC minutes signaled that officials want more progress on inflation before considering rate cuts. The Fed kept rates unchanged after three cuts in 2024, citing concerns over Trump's proposed tariffs, which could drive prices higher.
While some policymakers saw growth potential from deregulation and tax changes, many remained wary of inflation risks. Adding to market uncertainty, Trump threatened a 25% tariff on auto, semiconductor, and pharmaceutical imports.
Meanwhile, Singapore’s gold shipments to the US surged to a three-year high in January, reflecting disruptions in bullion trading due to pricing disparities.
Source : Trading Economics