empty
 
 

2021.01.2710:01:00UTC+00Gold Prices Ease Ahead Of Fed Decision

Gold prices fell slightly on Wednesday and the dollar edged higher against a basket of currencies as investors waited for comments from Federal Reserve Chair Jerome Powell.

Spot gold dropped 0.3 percent to $1,846.32 per ounce, while U.S. gold futures were down 0.3 percent at $1,844.55 per ounce.

The U.S. central bank is widely expected to leave interest rates unchanged, but many expect the central bank to provide additional guidance about its bond purchasing program to help speed the economic recovery.

The Fed chair is due to speak at a news conference, with investors looking for clarity around the fiscal side of things and coronavirus vaccines. The precious metal may gain some support if Powell sounds dovish.

U.S. stimulus talks also remain in focus after U.S. Senate Majority Leader Chuck Schumer said Democrats will move forward on President Joe Biden's $1.9 trillion coronavirus relief plan without Republican support if necessary.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback