Silver markets have also gained ground as traders prepared for Fed decision.
Gold remains under pressure near $4,000 as Fed decision looms
Gold slumps below $4000 and Oil rallies
XAU/USD outlook: Gold remains at the back foot ahead of Fed, inflation data
Gold price eases for the third straight day and retests very important $4000 support on Wednesday, as initial enthusiasm about diplomatic action replacing hostilities in the Middle East, faded after fresh attacks of US / Saudi armies on Iraq.
Gold: Fed risk caps CTA upside – TD Securities
The gold market continues to sit just above a major round figure, as we are heading into the Wednesday session, which will feature the Federal Reserve interest rate decision.
Gold struggles for direction ahead of Federal Reserve policy verdict
The US dollar has retreated as traders square positions ahead of the FOMC meeting results announcement. The futures market puts the odds of a Fed rate hike at 1 in 3 following the 28–29 July meeting.
TL;DR: With geopolitical risk fading and Brent retreated sharply this week, Gold has settled into a narrow range above $4,000 — leaving today's FOMC vote breakdown, not the headline rate decision, as the market's next major catalyst.
Gold traders worry about today's FOMC rate decision [Video]
Gold and silver remain in focus on Fed Decision Day as investors await policymakers' guidance on inflation, interest rates and the outlook for XAU/USD and XAG/USD.