Gold prices were little changed, trading around $3,300 an ounce on Wednesday as investors digested the minutes from the Federal Reserve's May meeting, which revealed growing concerns about inflation and a weakening labor market, in part due to trade tensions and proposed tariffs.
The Fed maintained a cautious stance, opting to hold interest rates steady for a third straight meeting while acknowledging rising economic uncertainty and risks to inflation and employment. While the economy remains solid, officials have warned of lower growth forecasts and rising recession risks.
Gold, up 26% this year and hitting a record high in April, continues to draw safe-haven demand amid uncertainty and expectations of a rate break. Goldman Sachs recommended increasing exposure to bullion, citing pressure on U.S. institutions and strong central bank buying. Meanwhile, U.S. gold exports to Switzerland surged in April after tariffs on the precious metal were lifted. (alg)
Source: Trading Economics
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