Precious Metals Preview: COMEX gold lingers under $4K mark; all eyes on Fed decision

COMEX gold continues to linger under $4K mark on Wednesday, pausing slide near a 3-week low as progress on US-China trade deal reduce demand for the safe haven commodity. US President Donald Trump said that he expected to reach a trade agreement with China in the coming days. Also, investors await further cues from Federal Reserve stance on interest rates due later in the global day. Increasing hopes of a rate cut coudk reduce appeal for greenback and support the yellow metal. Currently, the counter is quoting at $3977.30 an ounce, down 0.15% on the day.

Powered by Commodity Insights