Gold edged lower amid cautious sentiment ahead of Fed meeting

April 24th, according to foreign media reports, gold prices edged lower for the second consecutive trading day on Monday, as investors focused on the central bank meeting to clarify the central bank’s interest rate hike strategy, which may help judge whether it will help curb inflation. get along with. Spot gold fell 0.27 percent to $1,977.60 an ounce. U.S. gold futures slipped 0.11 percent to $1,988.40 an ounce. Yeap Jun Rong, market analyst at IG, said: U.S. Treasury yields stabilized after the release of the flash PMI data last Friday, putting downward pressure on gold prices. While the Fed‘s interest rate expectations have remained steady so far, a further recovery in economic conditions in the coming weeks could fuel speculation of another rate hike in June, or delay the timetable for a rate cut, which would act as a headwind for gold. The CME FedWatch tool shows that the market expects an 86.3 percent chance that the Fed will raise interest rates by 25 basis points at its May 2-3 meeting.