Investors cautious ahead of Federal Reserve policy decision
— Gold prices firmed on Tuesday as the US dollar and treasury yields retreated, though caution prevailed among investors as markets awaited policy guidance from the Federal Reserve’s meeting due later in the day.
The press conference after the Fed meeting will dictate the next $25 to $50 move on gold, said Stephen Innes, managing partner at SPI Asset Management. At the end of a two-day policy meeting on Wednesday, the US central bank is expected to deliver a fourth straight 75-basis point rate increase, and are also seen debating when to downshift to smaller hikes.
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