Gold Anticipates US Fed Interest Rate Decision

Gold prices edged up on Wednesday, supported by a stable dollar as investors awaited the US Federal Reserve's monetary policy decision on interest rates. By 09:48 Moscow time, December gold futures traded at $4101.30 per ounce, marking a slight increase of 0.07% from the previous close. Spot gold contracts reached $4041.92 per ounce, up 0.31% from the prior settlement price. The US Federal Reserve concludes its two-day meeting today, with broad expectations for interest rates to remain unchanged. Focus also turns to the Bank of England and the Bank of Japan, both widely anticipated to hold rates steady on Thursday and Friday, respectively, amid persistent inflation warnings. The dollar, meanwhile, maintained a level near its one-month peak, making the dollar-denominated metal costlier for other currency holders.