Gold remains under slight pressure on Wednesday, taking a wait-and-see position ahead of the Fed's interest rate decision, writes Reuters.
Traders are also trying to assess the prospects for easing monetary policy in the U.S. in the coming year.
The spot price traded down 0.05%, at $2,645 per ounce by 15:09 Moscow time, while February futures retreated by a symbolic 0.04%, to $2,660.
Despite the fact that markets widely expect another quarter-point reduction, the outlook for 2025 remains unclear as the new Trump administration may implement measures that will have an inflationary effect.
Fed officials may adjust their statements following the meeting and raise the projected trajectory of borrowing costs. The regulator will also present updated quarterly economic forecasts.
Moreover, traders will continue to monitor U.S. data in search of further signals regarding the bank's policy outlook for 2025. This week, data on GDP and the core personal consumption expenditures index - the Fed's preferred measure for assessing inflation - is expected to be released.
