BENGALURU- Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve’s last policy meeting for fresh cues on when the US central bank will start cutting interest rates.
Spot gold was nearly unchanged at $2,329.66 per ounce. US gold futures gained 0.2 percent to $2,338.70.
The gold market has been steady and holding in a narrow range for a few weeks now, said Marex analyst Edward Meir, adding that bullion prices might move higher later this year with all these elections up in the air.
Ahead of the release of the Fed minutes at 1800 GMT, Chair Jerome Powell said on Tuesday the United States was back on a “disinflationary path”, but policymakers needed more data before cutting rates to verify that recent weaker inflation readings provided an accurate picture of the economy.
