Gold closes lower ahead of Fed decisions

Economies.com
2021-04-28 18:14PM UTC

Gold prices rose on Wednesday, as the US dollar held against most of its peers amid anticipation of the Federal Reserve's interest rate decision.

 

The Federal Reserve will unveil its interest rate decision later today, which is expected to be held unchanged between 0.0% and 0.25%, and Fed Chief Jerome Powell will hold a press conference afterwards.

 

The US Goods Trade Balance index showed a deficit of $90.58 billion last month, which is the highest monthly level ever.

 

The dollar index fell against a basket of currencies by less than 0.1% to 90.8 points as of 18:02 GMT, after it hit a high of 91.1 points and a low of 90.7 points.

 

Gold June futures fell 0.3% or $4.90, and closed at $1,776.8 an ounce, after hitting a day high at $1,779.1 and the low at $1,761.8.

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