Spot Gold recouped part of recent losses on Thursday, holding near the $3,300 mark.
Yesterday the yellow metal slid to a 1-month low of $3,268.12, after the Federal Reserve left interest rates on hold and provided little indication of when borrowing costs might be reduced.
The Fed kept its federal funds rate target range without change at 4.25%-4.50% at its July meeting, in line with market consensus.
Yet, two governors dissented in favor of a rate cut, which has been the first such dual dissent since 1993.
The Fed continued its wait-and-see approach amid concerns that the ongoing trade war could undermine progress toward the 2% inflation objective.
Policy makers noted that recent indicators pointed to a moderation in economic activity in the first half of the year, compared to earlier assessments that growth was proceeding “at a solid pace.”
Fed Chair Jerome Powell said the central bank had not decided about September, when many were expecting the first rate cut of the year to occur.
Powell also noted that “downside risks to labor market are certainly apparent.”
Markets are now pricing in 35 basis points of rate cuts by year-end.
Meanwhile, market players also digested stronger-than-expected US GDP growth and private payrolls growth data.
Spot Gold was last up 0.76% on the day to trade at $3,300.11 per troy ounce.
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