Gold Under Pressure Ahead of FOMC, Yields and Dollar Weigh

Fundamentally, gold remains under pressure today as the market becomes increasingly confident that the Fed will raise interest rates at its meeting on Wednesday. Remaining high US inflation data, rising energy prices, and the 10-year Treasury yield, which briefly approached 5%, have made interest-bearing assets more attractive than gold. This situation maintains pressure on XAU/USD, especially as the US dollar continues to receive support from expectations of tighter monetary policy.

However, there is room for a rebound if Treasury yields and oil prices begin to decline or the Fed signals a more dovish stance than expected. Middle East tensions are still supporting safe-haven demand, but for now, interest rates and yields are the dominant influence on gold prices. So, the main direction of gold today remains bearish to neutral, with the market tending to be cautious ahead of the FOMC decision. (mrv)

Gold price at the time of this analysis: $4,307

- Buy if the price moves to $4,312

- Sell if the price moves to $4,302

Resistance 2: $4,335

Resistance 1: $4,320

Support 1: $4,289

Support 2: $4.74

Note: This article is analytical and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.

Source: Newsmaker.id