Muscat: Gold prices were largely unchanged in Asian trading today as investors remained cautious ahead of the US Federal Reserve's interest rate decision. Spot gold was steady at $4,186.99 an ounce, while US gold futures for December delivery edged down 0.1% to $4,215.80 an ounce. Among other precious metals, silver was unchanged at $58.10 an ounce after touching a record high of $59.32 on Friday. Platinum climbed 0.5% to $1,650.20 an ounce, while palladium advanced 0.4% to $1,471.25 an ounce.

According to Oman News Agency, the stability in gold prices reflects market anticipation of the Federal Reserve's upcoming decision, which is expected to signal the future path of interest rates. Investors are closely watching for any indications from the Fed that might affect the relative strength of the dollar and, consequently, the demand for gold and other commodities.

The performance of other precious metals also indicates a cautious market sentiment. Silver, which recently hit a record high, remained unchanged, suggesting that investors are waiting for more concrete signals before making significant moves. Meanwhile, the slight increases in platinum and palladium prices suggest some level of investor interest in these metals, potentially due to their industrial applications and varying market demands.

As the Federal Reserve meeting progresses, market participants are likely to continue monitoring these developments closely. The outcomes could have notable implications for investment strategies and commodity pricing in the near term.