Asian markets saw a slight increase in gold prices in early trading, with the market awaiting the FOMC decision.

In the early Asian session, gold prices edged up slightly, possibly due to some position adjustments in the market before the FOMC's decision later today. Spot gold rose 0.1% to $1,694.54 per ounce. Eric Chia of Exness stated that the market has already priced in the expectation of a 25-basis-point rate cut by the Federal Reserve, and the likelihood of a 50-basis-point cut is small, which has boosted demand for gold as a non-interest-bearing asset. The financial market strategist added that they are also waiting for the Fed's quarterly forecasts and Chairman Powell's press conference to look for signals about the pace of future rate cuts.