"Gold Retreats Before Fed Policy Meeting"
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: Gold prices took a significant nosedive as the Federal Reserve (Fed) is expected to provide hawkish guidance on interest rates. The Fed might further tighten its policies due to robust wage growth. Heightened tensions in the Middle East have added more appeal to the rising price of gold.
Gold prices are facing an extended selloff while struggling to stabilize above the psychological resistance level of $2,000. The precious metal has witnessed a sharp decline, driven by expectations of the Fed potentially tightening its policies even further. Gold has been trading within the range of $1,960 to $2,010 over the past week. Expectations of volatility are widespread following the Fed's policy announcement. Oscillators are still trading in an upward trajectory.
Gold prices are facing an extended selloff while struggling to stabilize above the psychological resistance level of $2,000. The precious metal has witnessed a sharp decline, driven by expectations of the Fed potentially tightening its policies even further. Gold has been trading within the range of $1,960 to $2,010 over the past week. Expectations of volatility are widespread following the Fed's policy announcement. Oscillators are still trading in an upward trajectory.
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