Gold prices stabilized on Tuesday as traders remain cautious, awaiting new signals from major central banks regarding their monetary policy plans, particularly the U.S. Federal Reserve. There was little change in spot gold prices, which recorded $1,983.29 per ounce by 05:28 GMT. U.S. gold futures fell 0.1% to $1,991. There are significant expectations that the Federal Reserve, meeting on May 2 and 3, will raise interest rates by 25 basis points. Ajay Kedia, a board member of Kedia Commodities in Mumbai, stated that "gold prices could move towards the $2,000 level if the Federal Reserve highlights recession concerns and hints at a pause in the rate hike cycle."
Stability of Gold Amid Caution Ahead of Federal Meeting
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