Gold price remains stable ahead of Fed's rate decision

Gold slightly changed in price on Wednesday morning, just like the day before as investors are waiting for US Fed's decision on the rate, Report informs.

The price of August futures for gold on the New York Comex exchange rose by $0.65 (0.03%) to $1,964.35 per troy ounce. A day earlier, the growth in the value of the precious metal was less than 0.1%.

September futures for silver fell 0.2% to $24.775 an ounce.

The Fed will announce its decision later in the day. As the markets believe, the Fed may raise the discount rate by 0.25 percentage points, to 5.25-5.5%, after which it may begin to reverse the cycle of monetary tightening. Markets will also be waiting for comments from Fed's Jerome Powell, who may give markets hints about the regulator's future plans.