WASHINGTON (dpa-AFX) - Gold prices eased on Wednesday as traders cautiously awaited the outcome of the U.S. Federal Reserve policy meeting.
Spot gold dipped 0.3 percent to $1,782.07 per ounce, while U.S. gold futures were down 0.4 percent at $1,782.80.
To address growing inflationary risks, the Fed is expected to announce the start of tapering bond purchases when it concludes monetary policy meeting later in the day.
Economists widely expect the federal funds rate to be kept at 0-0.25 percent.
Investors will also look out for any clues about the possibility of interest rate hikes next year in the wake of the recent spike in inflation.
The Fed announcement is likely to be in the spotlight later today along with reports on private sector employment, service sector activity and factory orders.
The latest U.S. jobs data, including non-farm payrolls, will be released on Friday.
The Bank of England announces its policy decision on Thursday, with think-tanks divided on which way the rate decision would go.
Copyright RTT News/dpa-AFX
© 2021 AFX News
