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Gold stabilizes before Fed rate decision
Gold prices stabilized today after hitting their lowest levels in over a month, as investors awaited the U.S. Federal Reserve's decision on interest rate hikes, expected to increase by a quarter of a percentage point to a range between 3.75% and 4.00%. The impact of interest rates on gold's attractiveness depends on their effect; since gold is considered a hedge against inflation, higher rates typically make it less appealing by increasing opportunity costs. The Fed's decision and its outlook on monetary policy will significantly influence gold prices, especially if it signals the start of a series of tightening cycles or adopts a more cautious tone, which would impact market sentiment.
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