Gold Holds Steady as Markets Await Fed Decision
These last few weeks have seen the price of gold increase significantly as uncertainty surrounding the Fed’s monetary policy grows. The Federal Reserve is expected to give guidance for this precious metals’ market, as its price rose to about $4,200 per ounce. This comes as expectations of a reduction in interest rate increase. During the recent meeting, Chair Jerome Powell warned that a reduction in rates wasn’t a guarantee. This hawkish stance saw markets adjust asset prices to reflect their expectation that the rates would remain unchanged. However, with inflation holding steady and new data pointing to a definite cooling…