Gold Holds Breath, Awaits Fed`s Fate

Published on Mar 20, 2024 14:57

Gold futures traded in a narrow range as investors awaited the Federal Reserve`s policy decision later in the day. The Fed is expected to maintain interest rates amidst reduced expectations of a June cut, influenced by strong US inflation data. Other major central banks, including China, Japan, and Australia, have already made their decisions this week. China`s People`s Bank kept its loan prime rates unchanged, while the Bank of Japan exited its negative rate policy and the Reserve Bank of Australia held rates steady. In India, domestic gold futures for April delivery remained flat at Rs 65,996 per 10 grams on the Multi Commodity Exchange.