Gold prices bounced back on Wednesday amid growing caution preceding the U.S. Federal Reserve's policy announcement later in the day. “The Federal Reserve meeting primarily centers on economic indicators such as GDP, PCE, and job data, rather than solely on interest rates. Consequently, no interest rate hike decision is expected tomorrow, minimizing potential impacts on both the gold and equity markets. Also read: Gold slips 1% to touch one-week low ahead of Fed meeting, silver dips 2.6%What's weighing on gold prices? Traders have recently scaled back expectations of Federal Reserve rate cuts for the remainder of the year, attributing this adjustment to stronger-than-anticipated U.S. economic indicators and persistent inflationary pressures.

Source: Mint May 02, 2024 10:52 UTC