Spot gold slips as Fed holds rates at 3.75%-4.00%
Gold prices slipped on Thursday after the US Federal Reserve decided not to change interest rates, keeping them at 3.75% to 4.00%.
Spot gold dropped 0.7% to $4,037.98 per ounce, while futures held steady as everyone waits for new US inflation data that could shape what happens next.
Ajay Kedia says traders are cautious
director at Mumbai-based Kedia Commodities like Ajay Kedia point out that traders are playing it safe ahead of the key inflation report and staying cautious because of tensions in the Middle East.
The odds of a rate hike in December have dropped a bit too, from 84% to 78%.
Meanwhile, global commodity prices could jump by 23% in 2026 thanks to ongoing geopolitical issues and shipping disruptions.
Plus, China's net gold imports through Hong Kong just hit a five-month high, showing how demand is shifting worldwide.