WASHINGTON (dpa-AFX) - Gold prices were moving lower on Wednesday as the dollar held steady near a one-week high after a two-day advance.
Spot gold fell 0.3 percent to $4,198.02 an ounce while U.S. gold futures were down 0.2 percent at $4,226.
Silver broke above the $60 per ounce mark, luring more short-term speculators into the market.
The yield on the U.S. 10-year Treasury note hovered near 4.2 percent, its highest level in three months, following an auction of the securities on Tuesday.
The Federal Reserve is widely expected to lower interest rates by another quarter point later today, but there is considerable uncertainty about the longer-term outlook for rates.
Investors will read between the lines, given conflicting trends of a cooling job market and sticky inflation, as well as gaps in the data from the government shutdown.
Fed Chair Jerome Powell's post-meeting press conference may offer more insights into whether the Fed will continue cutting rates or signal a pause in the rate-cut cycle.
Money markets are pricing around two Fed cuts in 2026, a retreat from more optimistic forecasts in recent weeks.
Kevin Hassett, the frontrunner in Trump's search to replace Powell, said on Tuesday that there's plenty of room to cut interest rates further, adding that if inflation rises the calculation may change.
U.S. President Donald Trump said support for immediately cutting interest rates would be a requirement for anyone he chose to lead the Federal Reserve, according to a Politico interview published on Tuesday.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News