Gold Holds Steady, Focus Shifts to Feds – 14 December, 2021

After a sharp drop in the previous session, gold steadied as investors searched for clues of tapering at the end of a 2-day policy meeting by the U.S. Federal Reserve. Spot gold rose 0.1% to $1,772.12 per ounce, while U.S. gold futures was unchanged at $1,771.60. As the meeting comes to a close after 2 days, investors are expecting the Fed to announce a faster wind-down of asset purchases. The European Central Bank, the Bank of England and the Bank of Japan are also scheduled to meet this week.