Gold prices dipped after the Federal Open Market Committee left its overnight funds rate in a range of 2.25% to 2.5% as expected.
Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.7% at $1,275.15 per ounce by 1:25 AM ET (05:25 GMT).
In a news conference, Fed Chairman Jerome Powell said the central bank’s “policy stance is appropriate right now” and that they “don't see a strong case for moving in either direction.”
The most recent measure of core PCE, the Fed's preferred measure of inflation, showed a slowdown to a rate 1.6%, well below the central bank's 2% target.
Source : Investing.com