Gold prices were largely flat on Wednesday after hitting a record high earlier as investors awaited the Federal Reserve's interest rate decision later today and continued to demand for safety. "There are concerns that tariffs could trigger inflation and the consensus is that the Fed could start easing around the middle of the year, despite rising prices as a result of US tariffs," said Bart Melek, head of commodity strategy at TD Securities. "I expect gold prices to remain roughly at current levels, around $25," Mr. Melek said.