Commodities
Gold Prices Tumble Ahead of Fed Decision Amid Strengthening US Dollar
Gold prices are struggling to gain traction ahead of the U.S. Federal Reserve's upcoming monetary policy decision, which is expected on March 2025.
The precious metal remains under pressure due to a strengthening U.S. dollar and rising bond yields, making it less appealing as a safe-haven asset.
From a technical perspective, gold has failed to reclaim key resistance levels near $2,150 per ounce, with sellers maintaining control below the 50-day moving average.
The Relative Strength Index (RSI) on the daily timeframe has dipped below 45, indicating bearish momentum without being oversold.