Gold steadied — after whipsawing on Wednesday when the Federal Reserve delivered its first interest-rate cut of 2025 — with traders cautious amid the central bank’s guarded optimism regarding further rate cuts.
Bullion traded roughly $40 below a fresh peak of $3,707.57 an ounce reached Wednesday, when the Fed lowered the benchmark rate by a quarter percentage point and penciled in two more reductions this year. Lower rates typically benefit bullion, a non-yielding asset.