Gold prices stayed mostly steady in global markets on Wednesday as investors waited for the US Federal Reserve’s interest rate decision and comments from its chairman, Kevin Warsh. Traders are looking for clues about what could happen next with interest rates and inflation.
Spot gold settled at $4,029.08 per ounce, while US gold futures for August delivery slipped slightly by 0.2% to $4,028.10 per ounce.
Markets are also watching decisions from the Bank of Japan and the Bank of England. Many investors expect both banks to keep interest rates unchanged because inflation concerns are still affecting global economies.
Among other precious metals, silver prices moved higher to $57.65 per ounce, and platinum increased to $1,600.40 per ounce. Meanwhile, palladium prices fell to $1,261 per ounce.
