Gold Price Gains Momentum: Traders Brace for Fed Rate Decision
Gold prices (XAU USD) attracted dip buyers during the Asian session on Friday, rebounding from a prior profit-taking slide. This week, the gold price faced downward pressure after reaching a five-week high around the $2,726 mark. The ongoing geopolitical risks, particularly the Russia-Ukraine conflict, alongside tensions in the Middle East, keep safe-haven demand for gold strong. As traders analyze price action leading up to the Federal Reserve’s rate decision, the focus remains on how these factors could influence gold in the near term. Investors should stay alert for any significant market movements following the announcement.
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