Gold prices continue to trade above $4,000
Istanbul, October 28 (Hibya) - Gold remained above $4,000 per ounce following gains in the previous two trading sessions, rising 0.3 percent to $4,068 ahead of the US Federal Reserve's (Fed) interest rate decision.
Gold prices maintained their upward momentum on Wednesday, October 28, ahead of the Fed's interest rate decision. Spot gold rose 0.3 percent to $4,068 per ounce. The precious metal had also recorded gains in the previous trading session, completing its second consecutive session of increases.
Markets are closely monitoring the Fed's interest rate decision and its messages regarding monetary policy in the coming period. The direction of the dollar, rising oil prices and inflation concerns are influencing gold prices, while expectations that interest rates could remain at elevated levels continue to put pressure on the precious metal.
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