Gold Flat as Investors Focus on Fed

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Spot gold was little changed at $2,571.28 per ounce. Bullion rose to a record high of $2,589.59 on Monday. US gold futures rose 0.2% to $2,597.60. The Fed is expected to announce a cut to interest rates for the first time in more than four years. Among other metals, spot silver fell nearly 1% to $30.42 per ounce, platinum edged 0.2% lower to $979.85 and palladium shed 0.6% to $1,109.42. Source: Qatar News Agency