BENGALURU- Gold prices were little changed on Wednesday as market participants awaited the US interest rate verdict, while the spotlight was also on President Donald Trump’s trade policies amid fresh tariff threats.
Spot gold held its ground at $2,762.49 per ounce. US gold futures added 0.1 percent to $2,769.90.
Last week, prices were trading near record-high levels but they fell over 1 percent on Monday as investors rushed to liquidate bullion to offset losses triggered by a sharp pullback in technology stocks, spurred by DeepSeek’s low-cost, low-power AI model.
“It’s always a bit of a concern when a market fails to break through previous highs, but such a move is still in play,” said Kyle Rodda, financial market analyst, Capital.com.
“Gold is catching a bid because of a desire to hedge against deficits, debt, and de-dollarization.”
Trump still plans to make good on his promise to issue tariffs on Canada and Mexico on Saturday, a White House spokeswoman told reporters on Tuesday.
The Federal Reserve’s first policy meeting of the year concludes later in the day. The central bank is widely expected to keep rates steady after 100 basis points of easing from September to December.