Gold is moving in a limited range as investors await the Fed’s statement

Gold moved in a limited trading range on Wednesday as investors awaited the Federal Reserve’s monetary policy meeting statement that could provide clues about further interest rate hikes.

And by 0647 GMT gold prices in spot transactions fell 0.1 percent to 1737.79 dollars an ounce, while there was little change in US gold futures, and it recorded 1738.20 dollars an ounce.

The statement from the US Central Bank’s Monetary Policy Committee meeting, held on November 1-2, is due at 1900 GMT. Investors are also expected to see clues from the durable goods data and US jobless claims.

The US central bank raised interest rates for the fourth time in a row by 75 basis points this month.

As for other precious metals, silver fell in spot transactions by 0.1% to $21.06 an ounce, while platinum rose 0.3% to $993.38 an ounce, and palladium rose 0.8% to $1875.45 an ounce.