Gold price extends its pullback from a multi-month top; focus remains on FOMC

Gold price drifts lower for the third successive day and refreshes weekly low on Wednesday. Receding safe-haven demand and hawkish Fed expectations weigh on the XAU/USD. China’s economic woes could lend support to the safe-haven metal ahead of the Fed decision. This marks the third successive day of a negative move and drags the commodity to a fresh weekly low, around the $1,978 region in the last hour.

A sustained strength beyond the latter should pave the way for an extension of over a three-week-old strong bullish trend and lift the Gold price to the next relevant barrier near the $2,022 zone. US Dollar price today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen. USD EUR GBP CAD AUD JPY NZD CHF USD 0.06% 0.02% 0.00% -0.03% -0.09% -0.01% -0.05% EUR -0.07% -0.04% -0.04% -0.10% -0.15% -0.

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