Gold has recorded minimal gains since the opening of the daily trading session following the Fed's decision to keep rates on hold while considering two rate cuts and US President Donald Trump's comments on Iran.
At 9.20 am, gold prices were at $3,377.81, up 0.25% since it opened early Thursday in Asian trading.
The latest FOMC meeting set the Fed to keep interest rates as expected and update its US economic outlook. Media suggested Gross Domestic Product (GDP) was lower than forecast in March and the unemployment rate would rise slightly.
Inflation could reach 3% with the federal funds rate forecast indicating that policymakers are considering a 50 basis point cut.
In addition, US President Donald Trump said in a recent press conference that top Iranian officials would come to the White House and that he welcomed the meeting.
Meanwhile, Fed Chairman Jerome Powell maintained a neutral stance, stressing that current monetary policy is well positioned to respond to the economic response to trade tariffs and geopolitical tensions.
Several US economic data showed the labor market remained solid, with weekly jobless claims rising as expected. However, housing data failed to meet market expectations, disappointing investor sentiment.
