Gold Prices Slump Ahead of Fed Decision

Gold prices have been volatile in recent weeks, and investors are closely watching US economic data for cues on the Federal Reserve's next move.

Last week, gold closed at $4,041.7 per ounce, down nearly 50 USD from its peak earlier in the week.

The market is waiting to see how US economic data will affect expectations about the Fed's monetary policy, which in turn could impact the dollar and bond yields.

Technically, the 4,000 USD/ounce area remains a key support zone for gold prices. If this level holds, the market may stabilize after recent corrections.