Gold Slips As Investors Await Fed Policy – 26 January, 2021

A firmer dollar dragged gold slightly lower ahead of the U.S. Federal Reserve’s monetary policy and the future of a stimulus relief package. Spot gold was 0.2% lower to $1,846.42 per ounce. U.S. gold futures were 0.3% lower at $ 1,845.30 per ounce. Investors seem to be holding out on a decision by the Feds before making any major moves, listening closely for indications of intentions of tapering which could help boost the precious metal to $1,880. Focus has also been shift to U.S. President Joe Biden’s coronavirus relief plan to pass through senate.