Gold flat lines below $3,400 as traders seem reluctant ahead of the critical FOMC meeting
Gold prices experienced resistance near a level of $ 2,340, which limits the upper speed of the metal. Despite the first benefits, Gold struggled to maintain the rally due to lack of strong demand for follow -up. The US dollar showed small forces, supported by a vigilant market spirit of the major American economic figures, including retail and Federal Reserve comments. Businesses are uncertain about Fed's next interest rate steps, especially in 2024 after a new political decision, it was indicated to cut only one interest rate in 2024. In the meantime, concerns for global economic growth and geopolitical stresses continue to offer underlying support to sleep as a safe Havan -Eiendom. However, without the decisive economic trigger, the gold -bound, which faces difficulty in breaking over the resistance. Technical indicators suggest that it may be unsafe for the short -term decline until the metal maintains over $ 2,340. The overall market approach is cautious as investors are waiting for obvious signs from the upcoming US data.
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