Gold prices rose by 0.3% to $1,948.59 per ounce, while U.S. gold futures gained 0.1% to $1,961.20 on Wednesday, supported by anticipation of a pause in interest rates at the Federal Reserve’s policy meeting. The outlook that the central bank is close to the peak of rate hikes and a weaker dollar continued to boost the appeal of bullion and make it more attractive to international investors. Although inflation remains double Federal Reserve’s 2% target, markets were optimistic of a 95% chance of a pause in June and a 61% chance of a rate hike in July, according to CME’s Fedwatch tool.
