Abu dhabi: Gold prices were steady on Wednesday as investors awaited the US Federal Reserve's policy decision and comments from Fed Chairman Kevin Warsh for clues on inflation and interest rate outlooks. Gold prices remained largely unchanged, with spot gold at $4,024.54 per ounce by 0448 GMT. Meanwhile, US gold futures for August delivery experienced a slight dip of 0.4 percent to $4,023.30.

According to Emirates News Agency, the precious metals market saw mixed movements. Spot silver showed a gain of 0.5 percent, reaching $57.41 per ounce, providing some positive momentum. In contrast, platinum experienced a decrease of 0.9 percent, bringing its price to $1,590.24. Palladium also faced a decline, falling 1.1 percent to $1,255.50.

Investors are closely monitoring these developments as the Federal Reserve's decisions and statements are expected to provide insights into future economic policies, influencing market dynamics in the coming weeks.