Gold prices fell on Wednesday to the lowest level in more than three weeks as the dollar rose ahead of a Federal Reserve decision on interest rates and monetary policy indicators later on Wednesday.<\/p>\n\n\n\n
Gold fell in spot transactions 0.2 percent to $1,975.07 per ounce by 0711 GMT. US gold futures also fell 0.2 percent to $1,990.10.<\/p>\n\n\n\n
The dollar rose 0.2 percent against competing currencies, which increases the cost of gold for holders of other currencies.<\/p>\n\n\n\n
The Monetary Policy Committee responsible for setting interest rates at the Federal Reserve will issue a statement setting monetary policy and the interest rate decision at 1900 GMT, followed by a press conference by Bank Chairman Jerome Powell at 1930 GMT.<\/p>\n\n\n\n
Traders widely expect the Federal Reserve to keep interest rates unchanged in a range between 5.25 and 5.50 percent this week, and they also expect about 75 percent to cut interest rates in May, according to the CME FeedWatch tool.<\/p>\n\n\n\n
Market traders are also awaiting the monetary policy meetings of the European Central Bank and the Bank of England on Thursday.<\/p>\n\n\n\n
As for other precious metals, silver continued its losses for the eighth session, falling by 0.6 percent to $22.62 per ounce, platinum fell by 0.3 percent to $926.55, and palladium by 0.7 to $972.95.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Wednesday to the lowest level in more than three weeks as the dollar rose ahead of a Federal Reserve decision on interest rates and monetary policy indicators later on Wednesday. Gold fell in spot transactions 0.2 percent to $1,975.07 per ounce by 0711 GMT. US gold futures also fell 0.2 percent …<\/p>\n","protected":false},"author":9,"featured_media":87991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7987,6885,7603],"class_list":["post-94016","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi-data","tag-fed","tag-gold-prices"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=94016"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94016\/revisions"}],"predecessor-version":[{"id":94017,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94016\/revisions\/94017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/87991"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=94016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=94016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=94016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}