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Below the Quote on Gold Commentary : Fed in their second meeting of this year, kept interest rate unchanged as per market expectations Says Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd 

Gold and Silver prices witnessed some profit booking in yesterday’s session as market participants were cautious ahead of the Fed policy meeting and updates regarding President Trump and Putin’s meeting. Fed in their second meeting of this year, kept interest rate unchanged as per market expectations. Federal Reserve hinted at possible easing of interest rates by half a percentage point by year-end, which further fostered bullion's appeal amid ongoing geopolitical and economic woes. The dot plot continues to show US central bank could deliver two quarter-percentage-point rate cuts by the end of this year. Federal Reserve cuts US growth forecast as Trump’s policies weigh on outlook, they expect GDP to expand by 1.7% this year. Meanwhile, he mentioned that progress on inflation was “probably” delayed for time being. Slowdown in pace of QT programme was also announced. U.S. President Trump's tariffs, which have flared trade tensions, are widely thought to be detrimental to economic growth and potentially stoke inflation. President Putin has agreed for a 30 days’ ease off; while on other hand Israeli airstrikes pounded Gaza and killed more than 400 people. Focus today will be on UK interest rate decision, US weekly jobless claims and phily fed manufacturing index.

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