WASHINGTON (dpa-AFX) - Gold prices edged higher on Wednesday, as the dollar weakened and bond yields held largely steady ahead of the Federal Reserve's interest-rate decision later in the day.
A weaker dollar makers bullion less expensive for overseas investors.
Spot gold rose 0.4 percent to $1,654.55 per ounce, while U.S. gold futures were up half a percent at $1,657.75.
The Fed is widely expected to raise interest rates by another 75 basis points, the fourth such increase in a row, as it fights the worst inflation in four decades.
That said, investors are waiting for signs that the U.S. central bank is prepared to slow the pace of its rate hikes come December.
Meanwhile, Thursday's Bank of England meeting has become a close call between 50 bps and 75 bps.
The policy decision will be accompanied by the Minutes of the meeting, the Monetary Policy Report, economic projections and Governor Andrew Bailey's press conference - making it a 'Super Thursday'.
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