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

CEO and Founder of CanAm Bullion has been dedicated to delivering exceptional value to Canadians since 2017. Driven by a mission to empower Canadians with expert investment advice and education, he has positioned CanAm Bullion as a trusted resource for those seeking to enhance their portfolios with precious metals. Under Michael’s leadership, the company has become synonymous with reliability, knowledge, and dedication, helping Canadians achieve greater financial stability and long-term success.

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