Spot gold slips to $4,118.64 as Fed meeting looms
Business
Gold prices slipped a bit this week as everyone waits to see what the US Federal Reserve will do about interest rates.
Spot gold dropped 0.1% to $4,118.64 per ounce, and US gold futures also edged down.
All eyes are now on the Fed's big meeting set for October 27-28, where they'll talk about their next steps for the economy.
Fed December hint could weaken gold
If the Fed keeps interest rates steady now but hints at a hike in December (which many expect), it could make gold less appealing since higher rates usually mean better returns elsewhere.
Silver prices held steady at $57.95 per ounce, while platinum ticked up slightly.
Meanwhile, Japan's central bank is also likely to raise its own rates soon: another move that could shake up global gold demand and prices even more.