{"id":40196,"date":"2023-11-01T10:17:19","date_gmt":"2023-11-01T10:17:19","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/11\/01\/gold-marginally-lower-ahead-of-fed-decision\/"},"modified":"2023-11-01T10:17:19","modified_gmt":"2023-11-01T10:17:19","slug":"gold-marginally-lower-ahead-of-fed-decision","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/11\/01\/gold-marginally-lower-ahead-of-fed-decision\/","title":{"rendered":"Gold Marginally Lower Ahead Of Fed Decision"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Gold traded flat to slightly lower on Wednesday ahead of the Federal Reserve&#8217;s rate decision later in the day and the Bank of England&#8217;s monetary policy announcement due on Thursday. <\/p>\n<p>Spot gold was little changed at $1,982.84 per ounce while U.S. gold futures were down 0.2 percent at $1,991.35.<\/p>\n<p>Gold is in consolidation mode after fears over the Middle East conflict boosted the safe-haven asset&#8217;s prices above $2,000 an ounce last month. <\/p>\n<p>Traders watched the latest developments in the Middle East after Israeli airstrikes hit a densely populated refugee camp in the Gaza Strip on Tuesday, killing at least 50 Palestinians and a Hamas commander.<\/p>\n<p>Israel prime minister Benjamin Netanyahu said the country&#8217;s war against Hamas will continue despite &#8220;painful losses&#8221;.<\/p>\n<p>Market participants also looked ahead to the Federal Reserve&#8217;s rate decision later in the day.<\/p>\n<p>The U.S. central bank is widely expected to leave interest rates unchanged, but traders will pay close attention to the accompanying statement for clues about the outlook for rates.<\/p>\n<p>At the press conference following the rate decision, Chair Jerome Powell may reiterate that the Fed is &#8216;proceeding carefully&#8217; and another rate hike is still an option based on incoming data.<\/p>\n<p>U.S. reports on manufacturing activity, construction spending and job openings will also be in the spotlight as recession fears swirl.<\/p>\n<p>The Bank of England will make its monetary policy announcement on Thursday, with economists expecting no change in interest rates. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Gold Marginally Lower Ahead Of Fed Decision<\/a><br \/>\n<br \/>2023-11-01 10:17:19<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold traded flat to slightly lower on Wednesday ahead of the Federal Reserve&#8217;s rate decision later in the day and the Bank of England&#8217;s monetary policy announcement due on Thursday&#8230;.<\/p>\n","protected":false},"author":2,"featured_media":40197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1585504256855-6718f7a693ae?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=934&q=80","fifu_image_alt":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-40196","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/40196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=40196"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/40196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/40197"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=40196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=40196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=40196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}