Gold Slides Around 1% As Traders Eye Fed

Published on Jan 31, 2023 15:12

Gold slipped on Tuesday ahead of Federal Meeting this week as investors will be watching for any new indications on how many more rate increases are likely. The yellow metal is coming under pressure amid dollar recover on possibility of a rate hike in the upcoming meeting. The dollar index that measures the greenback against a basket of currencies is staying near 102 mark. Meanwhile, COMEX gold is quoting at $1919, down around 1% on the day.