Gold prices gained on Wednesday, as investors awaited for the Federal Reserve to start its U.S. monetary easing cycle for the first time in over four years. Spot gold rose 0.3% to $2,577.75 per ounce as of 9:30 a.

Dow industrials jump more than 200 points after central bank embarks on easing policy for the first time since 2020.

The Federal Reserve cut interest rates on Wednesday for the first time since March 2020, lowering the Fed funds rate by 50 basis points. The decision to go with a larger 50 basis point rate cut, instead of the more common 25 basis point option,

Though the S&P 500 briefly touched a new record, equities were mixed as investors remain split over the Fed's interest rate decision on Wednesday.