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Gold prices retreat ahead of Federal Reserve interest rate decision; silver prices hover near high levels
Golden Finance reports that on Wednesday, as investors locked in some profits ahead of the Federal Reserve's rate decision and main Powell's press conference, gold prices declined slightly; silver, after touching a historical high during the session, oscillated narrowly below record highs. High Ridge Futures metals trading director David Meger said: “We may be entering a 'pause after rate cuts' path. But we still believe gold prices are generally in a sideways but stronger upward trend, and this is just a slight pause.” This meeting was the most divisive in years: policymakers, on one hand, need to weigh the necessity of rate cuts to support the labor market, while on the other hand, they are concerned that such measures could once again boost inflation.
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