Gold Prices Fall as Dollar Strengthens Ahead of Fed Decision

Gold prices experienced fluctuations amid concerns about President Trump's tariff threats and the strength of the U.S. dollar, which impacted demand for the precious metal. Currently trading around $2,768 an ounce, gold's appeal is challenged by a rising dollar, making it costlier for foreign investors. Analysts predict that gold could potentially reach $3,000 an ounce, driven by inflation and geopolitical tensions, despite a forecasted muted rise this year. RHB Investment Bank maintains a bullish outlook, expecting gold to test resistance levels at $2,900 and possibly $3,000, supported by strong technical indicators. The upcoming Federal Reserve meeting is anticipated to influence gold prices, with expectations that rates will remain stable but may be affected by Trump's economic policies. The overarching sentiment suggests that gold could benefit from ongoing uncertainties in the financial landscape.