Gold prices were little changed at $1,950 an ounce on Thursday, holding close to its lowest level in three months, as traders digest the latest monetary policy decisions. Yesterday, the Federal Reserve paused its tightening campaign, but hinted at further interest rate hikes this year. At the same time, the ECB delivered another 25bps increase in borrowing costs and reiterated it is not planning to pause the rate-hike campaign. Also, the BoE is expected to increase rates further next week. On the other hand, the BoJ is set to maintain its ultra-loose monetary policy tomorrow and the People’s Bank of China cut two key interest rates by 10bps, the first reduction since August 2022.
