Gold Price Fluctuations Awaiting Fed Decision

Gold prices fluctuated throughout the week, influenced by a strengthening dollar and market anticipation of the Federal Reserve's mid-term decision on interest rates. The gold price slightly decreased on Wednesday, with markets awaiting Fed Chair Jerome Powell's press conference. Despite the initial decrease, gold prices rebounded and are on track to end a four-month decline, with a monthly gain of over 2%. The most liquid gold contract closed higher on Thursday following the Fed's decision to maintain interest rates and the release of the Personal Consumption Expenditures index. Gold is seen as a hedge against inflation but loses its appeal when interest rates are high.