Gold prices rise as investors await Fed meeting

Gold prices rose slightly on Monday, as investors awaited a possible interest rate cut by the Federal Reserve this week, with focus on the US central bank chief’s speech on expected rate cuts next year.

Spot gold rose 0.17% to $2,653.02 an ounce, while US gold futures fell 0.2% to $2,670.90.

Ig Markets have fully priced in a 25 basis point cut this week, but the focus will be on whether it will be a “hawkish cut,” as US policymakers may pave the way for a possible interest rate cut until January, given inflation remains above target and uncertainty over President Donald Trump’s next policies, said IG Markets strategist Yip Jun Rong.