Gold is Awaiting Significant Data Today That May Bring it Down

Gold fell Wednesday morning in Asia, focusing squarely on the latest US federal policy decision. Investors are preparing to assess the US central bank’s plans to combat rising inflation and allay concerns about the economic recovery from COVID-19.

Gold futures were down 0.30% at $1,784.05 by 11:29 PM.

The Fed will release its decision later in the day when the schedule for scaling back asset purchases is expected to be revealed. The central bank is likely to start reducing its monthly asset purchases by $15 billion a month until it ends by mid-2022, but the timetable for raising interest rates remains uncertain.