Gold prices remained relatively stable on Wednesday as investors displayed caution ahead of the Federal Reserve's policy meeting. The impending tariffs on Canada and Mexico, scheduled to start on February 1, added to market uncertainty. Traders are particularly focused on how Federal Reserve Chair Jerome Powell will respond to President Trump's calls for rate cuts and the Fed's broader outlook on monetary policy. Particularly relevant will be any references to inflationary pressures that may influence gold prices, especially if the Fed signals a longer period of elevated interest rates as a counter to expansive fiscal policies.
Gold prices showed little movement as investors cautiously await the Federal Reserve’s policy meeting, grappling with uncertainties stemming from new tariffs on Canada and Mexico.
Market participants are keeping an eye on the Fed’s decisions, anticipating a hold on interest rates but watching closely for signals about potential rate cuts amid ongoing trade tensions.
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