Gold Dips Ahead of Fed Decision While Middle East Tensions Provide Support

Gold prices dropped slightly on Wednesday as investors held back before the Federal Reserve’s interest rate decision.

While the Fed is expected to keep rates unchanged, traders are looking for hints about future rate cuts.

The ongoing Israel-Iran conflict is preventing gold prices from falling too much, as geopolitical tensions typically support gold demand.

Despite the small decline, analysts expect gold to stay above $3,000 per ounce due to strong buying from central banks and Chinese investors.