Gold steady as investors await Fed policy decision

Gold prices stabilized in Asian trading today, as investors held back from making large bets ahead of the Federal Reserve’s monetary policy decision, closely monitoring developments in the Israel-Iran conflict.

Spot gold was steady at $3,388.04 per ounce by 03:41 GMT. U.S. gold futures were little changed at $3,406.50.

“Gold prices have been volatile as investors focus on growing risks in the Middle East. Weak U.S. retail sales, housing, and industrial production data are strengthening the case for a Fed rate cut later this year,” analysts at ANZ said in a note, according to Reuters.