Gold prices have remained generally stable due to increased uncertainty surrounding the Fed's interest rate outlook after December. The market is adamant that interest rates will be cut by 25 basis points this week, so investors' attention has completely turned to Chairman Powell's speech and the pace of any further easing policy that follows. Analysts at Peak Trading Research said: “Market expectations will be a 'hawkish interest rate cut', that is, while cutting interest rates, the Federal Reserve will issue guidelines indicating that further easing may be suspended to ensure that inflation does not heat up again.”

Gold prices have remained generally stable due to increased uncertainty surrounding the Fed's interest rate outlook after December. The market is adamant that interest rates will be cut by 25 basis points this week, so investors' attention has completely turned to Chairman Powell's speech and the pace of any further easing policy that follows. Analysts at Peak Trading Research said: “Market expectations will be a 'hawkish interest rate cut', that is, while cutting interest rates, the Federal Reserve will issue guidelines indicating that further easing may be suspended to ensure that inflation does not heat up again.”