Gold prices are lower after Fed keeps rates unchanged

Gold ?prices were lower on Wednesday after the Federal Reserve kept its overnight rate unchanged, as was expected.

Spot gold traded 2.2% lower at $4,895.61 per ounce. Gold futures lost 2.4% to trade at $4,889.80 per ounce.

While the Fed held policy steady, it still projected to cut rates once in 2026. It also acknowledged uncertainty stemming from the U.S.-Iran war.

“The implications of developments in the Middle East for the U.S. economy are uncertain,” the Fed’s statement said.