- Gold prices remained largely stable in Asian trading on Wednesday as markets braced for the Federal Reserve's monetary policy decision amid increasing uncertainty over U.S. trade policies under President Donald Trump's administration.

- Spot gold was recorded at $2,762.64 per ounce, while gold futures expiring in February edged 0.1% higher to $2,796.06 per ounce.

- The U.S. Dollar Index slipped 0.1% in Asian trading on Wednesday after gaining 0.5% on Tuesday.

- Investors remained cautious ahead of the conclusion of the Federal Reserve’s two-day meeting, where policymakers are widely expected to keep interest rates steady. Key insights on inflation risks and a potential timeline for rate cuts in 2025 could also be revealed.

- President Trump has renewed calls for sharp tariffs on imports, including steel, aluminum, and pharmaceuticals, raising concerns over inflationary pressures and an escalation of trade wars. Trump is expected to impose a 25% tariff on imports from Canada and Mexico starting February 1, with the possibility of additional tariffs on Chinese goods.

- The slight market movements are also attributed to China's Lunar New Year holiday.

- If the Federal Reserve adopts a dovish tone, gold could reach new record levels, supported by safe-haven demand amid tariff-related uncertainty.

- Lower interest rates favor gold prices, making the yellow metal more attractive than interest-bearing assets.

- Meanwhile, platinum futures remained unchanged at $958.25 per ounce, while silver futures steadied at $30.848 per ounce.

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