Gold Prices Hold Steady Ahead of Feds December Policy Decision

Gold prices remained steady ahead of the Federal Open Markets Committee (FOMC) policy meeting, with spot gold rising 0.1% to $2,655.07 per ounce. U.S. gold futures held at $2,672.40. Markets are anticipating a 25-basis-point rate cut, but the Fed`s outlook for 2025 and comments from Chair Jerome Powell will be crucial.

Analysts suggest gold could see a technical correction, offering a buying opportunity. Other metals like silver, platinum, and palladium saw slight changes. Traders are also awaiting key U.S. economic data, including GDP and inflation figures, which could affect market sentiment.