Muscat: Gold prices edged lower today as the dollar held steady and market participants awaited the Federal Reserve's monetary policy decision for signs on inflation and the trajectory of US interest rates. Spot gold slipped 0.1 percent to $4,021.87 per ounce, while US gold futures for August delivery declined 0.4 percent to $4,021.70 per ounce. The Fed is widely expected to keep rates unchanged at the conclusion of its policy meeting later today.
According to Oman News Agency, the Bank of England and the Bank of Japan are also expected to hold rates steady on Thursday and Friday respectively, while cautioning over rising inflation. A stronger dollar, hovering near a one-month high, made the greenback-priced metal more expensive for holders of other currencies.
Among other precious metals, spot silver rose 0.1 percent to $57.20 per ounce, platinum gained 0.1 percent to $1,605.96 per ounce, while palladium dipped 0.1 percent to $1,268.35 per ounce.
