Gold prices remained stable on Wednesday. Investors are evaluating the chances of a major cut in interest rates by the Federal Reserve later today

US gold futures rose 0.2% to $2,597.60. Spot gold was little changed at $2,571.28 per ounce at 0224 GMT. The bar hit a record $2,589.59 on Monday. Zero-return bullion tends to be a preferred investment in a low interest rate environment and in the event of geopolitical turmoil

Among other metals, spot silver fell nearly 1% to $30.42 per ounce, platinum fell 0.2% to $979.85, and palladium lost 0.6% to $1,109.42 per ounce.