Gold in the international market held onto its position above the $2,760 level on Wednesday, as traders worldwide awaited the Federal Open Market Committee’s (FOMC) decision. The decision is expected to significantly influence future gold prices, with large fluctuations anticipated. The level of uncertainty in the market resulted in the gold market flat lining at $2,760.
The FOMC’s decision is being closely watched due to its projected impact on the U.S. economy. The central bank’s stance on inflation and future interest rate trajectories, could impact the global gold market. This has left traders on tenterhooks and is being seen as a key reason for gold prices steadying above $2,760. Read More
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