Gold prices moved in a tight range on Wednesday ahead of the Federal Reserve's interest rate decision.
Despite the dollar's weakness, gold futures settled slightly lower.
The dollar was quite subdued amid expectations the central bank will slow the pace of interest rate hikes.
The Fed is widely expected to raise interest rate by 25 basis points. The accompany statement and Fed Chair Jerome Powell's comments are in focus as markets look for clarity with regard to future interest rate hikes.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.