The gold market remains under pressure as the Federal Reserve leaves interest rates unchanged and provides little forward guidance on its monetary policy.
As expected, the U.S. central bank left the Fed Funds rate in a range between 5.25% and 5.50% as struck and optimistic tone on the U.S. economy even as it continues to expect to see some weakness.
“Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low,” the Federal Reserve said in its monetary policy statement.
