Yellow metal maintains high positions approaching $ 3,700 in the middle of the weak US dollar and the expectation of interest rate cuts by the Federal Reserve (Fed).
The broad market is now focusing on the Fed Rate results at this time.
At 9.15am, gold prices were at $ 3,690, which remained horizontal since it opened at the beginning of Wednesday trading at the Asian session.
The Fed is expected to carry out its 25 -point loan rate cuts at the September meeting, making it a reduction in the first rate by 2025 by lowering the federal fund rate to the target range of 4.0% to 4.25%.
Market participants expect more rates cuts by the end of the year, given the US economic data, especially labor reports and inflation that support the Fed's views.
Lower interest rates can reduce the cost of gold investors and support the price increase.
In addition, the market will closely monitor the developments of the US and China negotiations through a meeting between representatives, led by US Treasury Secretary Scott Bessent and Jamieson Greer trade representative and Chinese officials led by Vice Prime Minister He Lifeng.
Any signs of ease the tensions of trade between the two largest economies of the world or improved risk sentiment can increase risk sentiment and burden safe assets such as gold.
