05-07-2018 03:30 PM

Gold prices were stable on Thursday as traders anticipated summary from the U.S. Federal Reserve's June policy meeting later today.

Gold prices were trading at $ 1255.50 at the time of preparing this report.

In the view of Mr.Ponmudi, Head of Research and Managing Director – After the July 4th holiday, it is silent this morning so far. Much movement is not likely until the Fed minutes.

The result of a two-day U.S. Federal Reserve policy meeting is planned to be declared at 2PM ET (18:00 GMT). The central bank had proposed in June two more rate hikes in 2018.

Trade worries continued the focal point. U.S. is planned to entail excise on $34 billion of Chinese goods.  The Chinese administration accused the U.S. for this move of this intimidate tariffs, and said Beijing will react the immediate U.S. process go into outcome.

According to the Chinese Ministry of Finance – “China will not fire the first shot”. It has mentioned in a statement that the country will not execute its charges before the U.S., regardless of the current recent news recommended that Beijing would begin striking tariffs hours in advance of the U.S. due to the time zone difference.