Markets imply around an 85 per cent chance of a quarter-point reduction in the 3.75 per cent to 4.0 per cent funds rate, so a steady decision would be a seismic shock
US Treasury yields were hovering near their lowest in over a month on Thursday, as investors pondered the outlook for rates in the world's largest economy
Prevailing geopolitical concerns following the escalating conflict in Ukraine earlier this week led safe-haven assets higher, including gold and government bonds
China stocks also gained, with blue-chip shares 0.14 per cent higher, while Hong Kong's Hang Seng Index rose 1.4 per cent, having touched an eight month high in early trading
Europe's main stock indexes barely budged and government bond yields edged up toward multi-year highs hit earlier in the week as March PMI data came in reassuringly robust
World stocks crept higher on Wednesday, while assets such as government bonds and gold lost ground, despite Western doubt of Russian claims of troops pullback from Ukraine's borders.
With the reports of Russian troops near Ukraine returning to their base, thereby easing the Russia-Ukraine tension, the Gold prices fall by 0.8% after reaching 8-month high prices.