Gold is retracing from a resistance level of $3,450, illustrating the impact of market psychology as investors evaluate conditions leading up to the Federal Reserve meeting. Meanwhile, silver defies gravity, sustaining its rally above $37, buoyed by ongoing geopolitical tensions that drive the demand for safe havens.

The upcoming Fed decision holds the potential to reshape the technical landscape significantly. Market participants are cautiously optimistic, looking for signals that may herald further price actions in both gold and silver as we approach this critical juncture.

Understanding the interplay between these precious metals and macroeconomic indicators will be vital for traders aiming to optimize their positions in the current market climate.