Gold prices are trading steady early on Thursday after the Fed’s latest policy meeting revealed no surprises in the markets. At the time of writing, GOLD is trading at a little above $1,475.

December’s FOMC meeting saw the Fed keep interest rates steady, as markets widely expected, while the Fed projected moderate economic growth for the US economy in 2020. On Wednesday, gold gained nearly 1% after the Fed’s interest rate announcement, as the US dollar weakened to a four-month low.

Gold also remains supported over the prevailing uncertainty in global financial markets surrounding the US-China trade war. Time is running out for the next round of tariff hikes to be implemented on December 15, and there has still been no confirmation from either side towards signing the phase one trade deal.

Other factors in the market supporting gold prices today include the first ECB policy meeting with new President Christine Lagarde at the helm as well as the general elections in the UK which could make or break Brexit.