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Gold dips before US rate decision
Gold prices slightly declined ahead of the US Federal Reserve Chairman's announcement regarding the interest rate decision, which is expected to occur during the current week. Expectations for a potential rate hike are increasing due to inflation pressures and rising oil prices, despite divided opinions on whether rates will be raised or kept steady. The precious metal experienced a decrease of up to 0.8%, approaching the $4,040 per ounce level. Investors continue to monitor monetary policy outcomes and their impact on global markets, amidst a balance between inflation concerns and geopolitical tensions in the Middle East, which have supported some demand for gold as a safe haven asset.
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