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Gold slips on oil-fuelled inflation fears ahead of Fed meeting
Gold prices ticked lower on Wednesday after the previous session’s climb of about 1%, as higher oil prices stoked inflation fears while investors awaited the Federal Reserve’s policy decision later in the day for clues to the rate outlook. Spot gold was down 0.3% at $4,045.29 per ounce by 0347 GMT. US gold futures for December delivery dropped 0.4% to $4,059.00. “Gold is moving based on the interest rate expectations and inflation risks because of higher energy prices,” said Soni Kumari, an analyst at ANZ. “As a result, the Fed will remain cautious, which remains a short-term key headwind for ...
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