Dollar Strength Limits Gold Upside Amid Ongoing Fed Policy Uncertainty

Gold prices remained steady above $4,300 on Wednesday after experiencing volatility in the previous session. The precious metal's stability came as a result of easing oil prices reducing inflation concerns and renewed dollar strength limiting upside momentum.

The Federal Reserve's policy outlook continues to be assessed by markets following recent rate decisions. Additionally, geopolitical uncertainty and strong Chinese gold demand have maintained underlying support for the metal.

The US Dollar Index (DXY) is currently trading above 100, indicating continued dollar strength that may pressure gold prices further. A stronger dollar could continue to limit gold's upside, while renewed weakness in the USD might provide support.