Gold Prices Sensitive to Fed Decision, Silver Leads Market Decline

Gold prices may be boosted due to uncertainty surrounding the upcoming interest rate decision. The Federal Reserve's announcement could lead to temporary price increases for precious metals.

A breakdown of silver's head-and-shoulders pattern and a bounce off its medium-term support line suggest that something will give in soon, potentially leading to a bigger move to the downside.

The USD Index favors this downward trend, according to analysis. Despite the uncertainty surrounding the Fed's decision, bond yields and settlements indicate that the market has already priced in the expected outcome.