Gold falls below $4,000 ahead of the Federal Reserve's rate decision
Gold prices retreated on Tuesday and briefly traded below $4,000 an ounce as investors awaited the Federal Reserve's policy announcement on Wednesday. At 05:58 ET, spot gold was down 0.5% at $3,998.23 an ounce and US futures were 0.6% lower at $4,013.17 an ounce. The market prices roughly a 10% chance of a rate hike this week, after September's increase, amid elevated energy prices and diplomatic efforts related to Iran.
In 35 seconds
- Spot gold fell 0.5% to $3,998.23 an ounce and futures dropped 0.6% to $4,013.17 an ounce.
- The market prices an approximately 10% probability of a rate hike at this week's Fed meeting.
- The Fed raised rates in September for the first time since 2023, and energy prices keep inflation expectations in play.
IASummary generated by artificial intelligence from a story by Revista ADVFN. It may contain errors: the original source prevails.




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