Gold dips before Fed meeting

Gold prices experienced a temporary dip ahead of the release of the Federal Reserve's meeting minutes, with spot gold declining by 0.3% to reach $4,150.23 per ounce, as investors awaited further guidance on the direction of U.S. interest rates. Despite international disruptions and expectations of an 85% chance of rate hikes in December, market forecasts suggest that gold could reach $5,013 next year, driven by demand as a hedge against inflation and geopolitical risks. Analysts anticipate continued pressure on gold due to rising yields on Treasury bonds and the strengthening dollar, as investors await the meeting minutes, which may shape future monetary policy trajectories.

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