Metals Stocks: Gold edges lower ahead of Fed decision

Gold futures edged lower ahead of the conclusion of a Federal Reserve meeting later Wednesday, but concerns about the state of U.S.-China trade talks could providing underlying support.

Gold for April delivery GCJ9, +0.05% on Comex fell $2.50, or 0.2%, to $1,304 an ounce, while May silver SIK9, -0.05% gave up 7.2 cents, or 0.5%, to trade at $15.30 an ounce.

“What can be watched as a potential positive driver for gold over the coming trading sessions is that risk-off sentiment appears to be creeping back into the markets, amid reports that China is pushing back against the United States in trade negotiations,” said Jameel Ahmad, global head of currency strategy and market research at FXTM, in a note.

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