Gold stabilizes as investors await US interest rate decision

Gold prices stabilized with a slight decline, as investors remained cautious ahead of the US Federal Reserve's widely expected decision on raising interest rates.

Gold prices saw a slight decline on Wednesday, with spot gold falling 0.1 percent to $4,288.48 per ounce. This decline comes as market participants remain cautious, awaiting the US Federal Reserve's monetary policy decision, which is widely expected to include a rate hike. US gold futures for December delivery also fell 0.1 percent to $4,328.10. The CME Group's FedWatch tool indicates that traders currently see a 92.4 percent probability of a US interest rate hike of at least 25 basis points later today. The monetary policy decision is scheduled to be followed by a press conference by Federal Reserve Chairman Kevin Warsh.