Gold prices stabilized, on Wednesday, as investors assessed the prospects of the Federal Reserve announcing a significant interest rate cut later in the day.
Gold was little changed in spot trading at $2,571.28 an ounce. On Monday, gold hit an all-time high of $2,589.59. U.S. gold futures rose 0.2 percent to $2,597.60.
The Fed is expected to announce its first rate cut in more than four years. The bank's president, Jerome Powell, is scheduled to hold a press conference to announce the rate cut.
Source (Al-Arabiya.net Website, Edited)
