Gold prices flat on caution ahead of Fed meeting

Gold prices flat on caution ahead of Fed meeting
# 02 May 2023 09:22 (UTC +04:00)

Gold prices were flat on Tuesday, as cautious market participants awaited fresh cues from top central banks on their monetary policy plans, especially from the U.S. Federal Reserve, APA-Economics reports citing Reuters.

Spot gold was unchanged at $1,982.69 per ounce by 0248 GMT. U.S. gold futures fell 0.1% to $1,991.00.

The Fed, which meets on May 2-3, is widely expected to raise interest rates by 25 basis points.

Spot silver fell 0.4 % at $24.87 per ounce.

Platinum lost 0.2% to $1,047.94 while palladium edged 0.7% higher to $1,460.78.

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