WASHINGTON (dpa-AFX) - Gold prices were mixed on Thursday, after having slipped from a new record high in the previous session following the Fed's widely expected interest-rate decision.
Spot gold edged up by 0.2 percent to $3,66.86 an ounce in European trade, while U.S. gold futures were down half a percent at $3,700.55.
A stronger dollar kept bullion under pressure following Fed's hawkish rate cut.
On Wednesday, the U.S. central bank cut interest rates for the first time since December and indicated more cuts would follow, citing recent sluggishness in the labor market.
However, Fed Chairman Jerome Powell termed the latest policy move as a 'risk management cut,' emphasizing it was not primarily aimed at addressing economic weakness and that the Fed is in a 'meeting-by-meeting situation' regarding the outlook for interest rates.
The central bank's next monetary policy meeting is scheduled for October 28-29, with CME Group's FedWatch tool currently indicating an 89.1 percent chance the Fed will lower rates by another quarter point.
The Bank of England is expected to hold the base interest rate at 4 percent later in the day despite high inflation. Economists predict a slower pace of quantitative tightening amid bond market volatility.
In economic releases, U.S. reports on initial jobless claims and leading economic indicators may garner some attention later in the day.
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