Gold Steadies as Traders Await Fed Rate Decision
The price of gold is holding steady this week while the price of silver dropped slightly as traders turned their focus to the Fed’s next move. September silver futures saw their price drop to $38.83 while December gold futures rose to $3420 an ounce. This comes after Chairman of the Federal Reserve Jerome Powell delivered a speech last week where he hinted that the Fed would probably reduce interest rates next month. Powell gave his speech at the recent Federal Reserve Central Bank symposium where he highlighted that economic growth was stagnating and inflation risks were increasing. His remarks fueled…