Gold steadied around $4,880 per ounce on Wednesday following a two-day decline, as markets reassessed the Federal Reserve’s monetary policy direction. Fed Governor Michael Barr said rates should remain on hold “for some time” until inflation shows progress toward the 2% target, while Chicago Fed President Austan Goolsbee suggested additional cuts could be possible later this year if that trend continues. Investors are now watching further Fed remarks, FOMC minutes, and key GDP and PCE data due later this week for guidance. Meanwhile, short-term demand for precious metals eased as China’s Lunar New Year holiday began, with lower liquidity expected while Chinese investors are off for most of the week. Geopolitical developments also weighed on the safe-haven asset, as reports highlighted progress in US–Iran talks and ongoing negotiations between Russia and Ukraine.