Gold prices are moderately lower in early U.S. trading Thursday. Risk aversion in the world marketplace has subsided late this week, meaning less safe-haven demand for gold and silver. The U.S. Federal Reserve is also being deemed as less dovish on monetary policy following Wednesday’s FOMC meeting. December gold futures were last down $5.60 an ounce at 1,510.10. December Comex silver prices were last steady at $17.92 an ounce.

Asian and European stock markets were mostly up in trading overnight. U.S. stock indexes are pointed toward weaker openings when the New York day session begins. The marketplace is presently not as anxious as earlier this week, in the wake of the weekend terrorist attack on Saudi oil installations. It may be the case that President Trump will just apply stronger economic sanctions on Iran and not use a military option to respond to Iran’s attack on Saudi Arabia.

Traders and investors are still digesting the Federal Reserve’s Open Market Committee (FOMC) meeting that ended Wednesday afternoon and raised U.S. interest rates (the “Fed funds” rate) by 0.25%, to 1.75% to 2%. The move was expected by the marketplace. However, the FOMC members were split on the move, voting 7 to 3 in favor of the cut. Seven of 17 FOMC members expect just one more interest rate cut this year. The marketplace deemed the FOMC statement as not so easy on U.S. monetary policy as many had expected, despite the rate cut. “A divided Fed” is the term many are now using to describe the U.S. central bank’s monetary posture.