Gold Price Holds Above $4,350 as Fed Decision Looms
The gold price has shown a near-term bullish advantage as buyers defend the $4,350 area. However, today's Federal Reserve decision could test this recovery.
The immediate question is whether December gold can clear resistance near $4,382 and build on its gains, or whether renewed interest-rate pressure sends prices back toward support.
Gold's recovery has substance, but resistance remains a challenge. The morning recovery has done more than produce a brief price spike; it has established progressively higher lows: $4,293 on September 14, $4,301.6 on September 15, and $4,315.2 during the September 16 snapshot.
The buyers then pushed above the previous day's high of $4,358.2, reaching $4,381.9 before pulling back. The subsequent pullback held around $4,361.5, preserving approximately 69% of the advance from the session low.