Gold remains high
The Fed's focus is still on inflation
Expect an increase of 25 or 50 basis points
Gold prices remained higher on Thursday even as Federal Reserve (Fed) policymakers reiterated their commitment to curb inflation.
In the Asian session, spot gold traded stronger at the highest level in almost 7 months at $1,855 per ounce, while gold futures were positive at $1,861 per ounce.
Minutes of the Fed's latest meeting show that policymakers agreed to slow aggressive rate hikes at last December's meeting.
This indirectly also drives expectations for smaller rate hikes to continue this year either 25 or 50 basis points.
Nevertheless, the central bank stressed that efforts to control inflation are still ongoing and high interest rates will be maintained for some time.
Not only that, but policymakers also see that no rate cuts will be implemented in 2023.
