Gold holds steady ahead of U.S. rate choice
Gold prices experienced a slight decline ahead of the upcoming Federal Reserve decision on monetary policy, with expectations of a 25 basis point interest rate hike at a 92.4% probability. The spot price of gold fell by 0.1% to $4,288.48 per ounce, after reaching its lowest level in over a month. Meanwhile, recent gains in the dollar and oil prices continue to pressure the precious metal. Market participants foresee that the rate hike decision will lead to further drops in gold prices, whereas dovish comments could help its recovery.
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