Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day.
Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day.
Spot gold was little changed at $2,571.28 per ounce, as of 0224 GMT. Bullion rose to a record high of $2,589.59 on Monday.
U.S. gold futures rose 0.2% to $2,597.60.
The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Chair Jerome Powell will hold a press conference afterward.
Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool.
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