Gold prices show minimal gains as the Asian session begins, following the Fed's decision to maintain rates, while indicating they are still considering two rate cuts. Meanwhile, US President Donald Trump's comments on Iran triggered a pullback towards a weekly low of $3,362, before settling at around current levels. The XAU/USD trades at $3,375, up 0.19%.
On Wednesday, the Fed maintained rates as expected and updated its economic projections for the United States (US). The medians suggest that Gross Domestic Product (GDP) would be lower than the March forecasts, while the unemployment rate would rise slightly. Inflation would likely end at around the 3% threshold, while the Federal funds rate forecasts indicate that policymakers are eyeing 50 basis points of easing.
Meanwhile, US President Donald Trump at a press conference said that if Iran wants to come to the White House, he said, "I may do that.
At the same time, Fed Chair Jerome Powell stood to its mildly neutral-hawkish stance, reaffirming that monetary policy is "well positioned to respond" to external shocks like tariffs or geopolitical risks.
Aside from this, a raft of US economic data revealed that the labor market has continued to ease as the number of Americans filing for unemployment benefits rose as expected. Housing data disappoints investors.
Source: Fxstreet
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