Gold drops as focus shifts to Fed meeting
Gold prices declined by 0.7%, reaching $4,044.81 per ounce, amid a rising dollar and market anticipation awaiting the Federal Reserve's decision on interest rates. The Fed is expected to either keep rates unchanged or raise them by at least 25 basis points, with an 81% likelihood of a rate hike in September. Other precious metals also fell, with silver, platinum, and palladium decreasing. Investors are closely monitoring the results of the meeting scheduled for Wednesday and Thursday to determine the future direction of monetary policy.
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