Precious metals, including gold, silver, palladium, and platinum, display uncertain market trends, with potential influences from the Fed's stance on interest rates and other global economic cues.
Gold prices experienced a dip on Thursday, influenced by the U.S. Federal Reserve's hardened hawkish policy stance. This led to a stronger U.S. dollar and higher bond yields, which further discouraged the buying of non-interest-paying bullion. Spot gold slid by 0.3% to $1,924.68 per ounce, and U.S. gold futures fell by 1.1% to $1,944.90.
Gold prices experienced a minor decline on Wednesday as investors adopted a cautious stance in anticipation of the Federal Reserve's imminent interest rate decision. The precious metal's price was further pressured by an increase in U.S. Treasury yields and a robust U.S. Dollar, with spot gold dipping by 0.1% to $1,930.22 per ounce, and December gold futures also declining by 0.1%, reaching $1,950.95 per ounce at 00:28 ET (04:28 GMT).