Gold falls as dollar gains ahead of Fed meeting
Gold prices declined today, Tuesday, by 0.7%, reaching $4,044.81 an ounce, amid pressure from the rising dollar, which maintained its highest level in a month. Markets are awaiting the U.S. Federal Reserve's decision on monetary policy. It is expected that the central bank will keep interest rates unchanged with a 62% probability, while there is a 38% chance of a 25 basis point hike. The likelihood of a rate increase in September has risen to 81%. Additionally, other precious metals such as silver, platinum, and palladium fell between 1% and 1.9%.
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