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Gold steadied above $1200 ahead of the FOMC meeting
steadied above $1200 ahead of the FOMC meeting
Gold remains trading slightly lower but steadied above $1200 per ounce on
Wednesday, on speculations that the Federal Reserve may delay rising the
investors are waiting for the release of the FOMC meeting due today later, looking
for further clues about the Fed next monetary policy decisions. Especially
after the release of disappointing U.S jobs data on last Friday, which has
fueled expectations that the Fed will hike its interest rates soon and pushed the
investors to buy the yellow metal as a safe haven asset. Accordingly, the
policymakers keep a cautious outlook about the U.S. economy.