Gold prices hold steady ahead of Fed decision.

Gold and silver prices remain largely unchanged ahead of the conclusion of the US Federal Reserve's Open Market Committee meeting, which is expected to raise its main US interest rate by 0.25%. Analysts question why the Fed would opt to tighten at all when the financial system is under strain, credit conditions have tightened, and the full impact of recent rate hikes is not yet fully understood. The European Central Bank is also expected to raise its main interest rate by a quarter-point. Meanwhile, plunging crude oil prices hit a five-week low overnight, and concerns about slowing global economic growth have hit the crude oil market hard.