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Gold Hits Snooze Button Ahead of Fed Rate, BOJ Policy Decisions

  • Metal’s 60-day volatility falls to lowest in 13 months
  • Gold, copper prices little changed ahead of Fed meeting
Updated on

Gold traders are taking a snooze a day before Federal Reserve and the Bank of Japan announce their monetary policy decisions.

The precious metal’s 60-day historical volatility has fallen to the lowest in 13 months. Aggregate trading on the Comex in New York slumped 45 percent below the 100-day moving average for this time of day, data compiled by Bloomberg show. Open interest, a tally of outstanding contracts, is down 14 percent from a record in July. Gold and copper prices swung between small gains and losses.