Gold prices retreat ahead of the Federal Reserve interest rate decision, silver prices hover near highs

Jinse Finance reported that on Wednesday, as investors locked in some profits ahead of the Federal Reserve's interest rate decision and Chairman Powell's press conference, gold prices edged lower; silver, after hitting a historic high during the session, fluctuated narrowly just below its record level. David Meger, Director of Metals Trading at High Ridge Futures, stated: "We may be entering a 'pause after rate cuts' path. However, we still believe that gold prices remain in a generally strong upward trend, and the current situation is just a slight pause." This meeting is one of the most divided in years: policymakers need to weigh the necessity of cutting rates to support the labor market, while also worrying that such a move could once again drive up inflation.