Gold prices (XAU/USD) are trading within a narrow range, staying below the important resistance level of $3,400 during European trading hours. The upward pressure on gold seems limited due to the Federal Reserve’s outlook, which recently revised their interest rate targets for 2026 and 2027. The Fed’s decision calls for rates to remain unchanged between 4.25% and 4.50%, impacting market perceptions and gold’s performance in this volatile economic environment.