Gold Steady Ahead of U.S. Fed Decision, Powell Speech

Wednesday, 30 October 2019 16:27 WIB



Gold steadies as traders await the outcome of a Federal Reserve rate-setting meeting later Wednesday, with the U.S. central bank projected to lower borrowing costs for a third straight meeting and offer clues on the policy path into 2020 amid slowing growth and the trade war.

Beyond the rate decision, the key for investors will be the tone and substance of Chairman Jerome Powell's press conference after the move is announced, at which he may signal a pause in this year's monetary-easing campaign while emphasizing flexibility should the economic outlook shift significantly.

Spot gold little changed at $1,490.48/oz at 8:52 am in London, after a two-day drop. Palladium +0.6% to $1,791.68/oz after -1.2% on Tues. Silver +0.2%.

Source : Bloomberg


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