Gold Firms as the US Fed Maintains its Interest Rate
Gold prices registered minimal gains after the U.S. Fed announced its decision to retain the existing interest rate on Wednesday. The Fed also revealed that two reductions in the interest rate are on the cards during the remaining months of the year. Gold fell sharply after President Trump had earlier commented that he was open to hosting Iran at the White House if the Middle East country decided to conduct negotiations. These comments caused gold prices to slide because they indicated that there was a possibility of deescalating the conflict between Iran and Israel in the foreseeable future. Gold had…