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Gold muted as investors brace for Fed rate decision
Gold prices were subdued on Wednesday as market participants hunkered down ahead of the US Federal Reserve’s policy decision, where a rate hike is widely expected. Spot gold was down 0.1% at $4,288.48 per ounce, as of 0143 GMT, after scaling a more than one-month low on Monday. US gold futures for December delivery were also down 0.1% at $4,328.10. Traders are now pricing in a 92.4% chance of at least a 25-basis-point US rate hike later in the day, according to CME FedWatch. The policy decision will be followed by a press conference from Fed Chair Kevin Warsh. “A hawkish Fed could furth...
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