Gold futures edged lower Wednesday as investors await the conclusion of a Federal Reserve meeting that’s fully expected to leave rates unchanged but might offer clues to the central bank’s assessment of the economic backdrop and path for monetary policy.
Gold for June delivery on Comex fell $2.30, or 0.2%, to $1,283.40 an ounce, while most-active July silver shed 7.9 cents, or 0.5%, to $14.905 an ounce.
The Fed is fully expected to remain on hold Wednesday, but Chairman Jerome Powell’s remarks will be closely watched for clues to policy makers’ thinking. The Fed is scheduled to release its policy statement at 2 p.m. Eastern, after the regular close for gold futures, with Powell’s news conference set for 2:30 p.m.
Source : MarketWatch