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Gold Prices Hold Near Multi-Month Highs Ahead of Fed Minutes

Gold Prices Hold Near Multi-Month Highs Ahead of Fed Minutes© Reuters. Gold stays near multi-month highs.

Investing.com – Gold prices were largely unchanged on Wednesday, as investors looked ahead to from the Federal Reserve’s latest policy meeting for fresh clues into the outlook for monetary policy in the months ahead.

Comex were up 50 cents, or less than 0.1%, at $1,231.30 a troy ounce by 9:05 AM ET (1305GMT), holding within sight of a two-and-a-half-month high of $1,236.90 hit on Monday.

Meanwhile, was trading at $1,227.61 per ounce, up $2.40, or roughly 0.2%.

The Fed raised interest rates by a quarter point following its meeting on Sept. 26 — its third rate hike of the year — and took a slightly more hawkish tone by dropping the word “accommodative” to describe its monetary policy stance.

Interest rate futures are pricing in around an that the Fed will again raise rates in December, according to Investing.com’s Fed Rate Monitor Tool, despite rising trade tension with China and from the White House.

In other metals action, were 2.9 cents, or 0.2%, higher at $14.73 a troy ounce.

was down 0.6% at $841.90, while shed about 0.1% to $1,072.50.

December tacked on 0.7 cents, or 0.3%, to $2.787 a pound.

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Source: Investing.com

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