Gold Stable Amid Tensions and Fed Talks
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Solid ECN—Gold prices are steady at around $2,410 per ounce this Wednesday. The price calmed a bit after reaching new peaks. As investors ponder comments from Federal Reserve officials, caution remains a theme.
Many Fed leaders suggest waiting a few more months to be sure inflation targets are being met before cutting interest rates. Later today, details from the Fed's recent meeting will be shared, and additional insights are expected from Fed speeches.
Meanwhile, tensions between the U.S. and China, alongside worries about increased conflicts in the Middle East following the death of Iran's President Ebrahim Raisi, are preventing a significant drop in gold prices. Also, efforts in China to address troubles in its real estate sector are helping to support gold prices.