Gold Fluctuates as Investors Turn Focus to Fed Meeting, US Data

No policy change expected at Federal Reserve meeting this week
The precious metal near a record high touched this month

1200x800 (2) — Gold has climbed more than 13% this year, hitting a record earlier this month.Photographer: Chalinee Thirasupa/Bloomberg

Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.

Policymakers are expected to reaffirm their stance for higher-for-longer interest rates at the conclusion of a two-day meeting Wednesday. The last time Fed Chair Jerome Powell spoke, he signaled that policymakers were likely to keep borrowing costs high for longer than previously anticipated, pointing to the lack of progress on bringing inflation down, and enduring strength in the labor market. The US non-farm payrolls number due Friday will also be crucial for traders.

Michael Piccoini

Strategic Planning, Leadership & Analysis Professional with a background in healthcare, manufacturing and retail. I have a strong understanding of the complex world of revenue Management and how to make it more relevant, understandable, and actionable for executive leadership across all levels of an organization. My career has spanned several years at UnitedHealth Group, Inc. I obtained my B. Comm from the University of Windsor and MBA from Wayne State University

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