Gold prices fall ahead of Fed meeting
Gold slips ahead of the Fed's interest rate decision as investors await key policy signals.
Gold and silver prices declined during Tuesday's trading, while the US dollar held near its highest level in a month, ahead of the start of the US Federal Reserve's policy meeting.
The US Dollar Index, which tracks the greenback against a basket of six major currencies, was little changed at 101.57.
US President Donald Trump urged the Federal Reserve to cut interest rates, saying the United States should have the lowest interest rates in the world, Reuters reported.
According to the CME FedWatch Tool, markets are currently pricing in a 62% probability that the Federal Reserve will keep interest rates unchanged at the conclusion of its two-day meeting on Wednesday, while 38% of market participants expect at least a 25-basis-point increase.
|
Changes in Precious Metals Prices (Futures and Spot Markets) |
|||
|
Metal |
Price (USD/oz) |
Change (USD) |
Change (%) |
|
Gold (August Futures) |
4,042.90 |
(34.10) |
(0.85%) |
|
Spot Gold |
4,038.62 |
(37.64) |
(0.90%) |
|
Silver (September Futures) |
57.32 |
(1.39) |
(2.35%) |
|
Spot Silver |
56.80 |
(1.57) |
(2.70%) |
|
Spot Platinum |
1,602.35 |
(23.88) |
(1.45%) |
|
Spot Palladium |
1,271.50 |
(20.45) |
(1.60%) |
Commodity Price
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