Gold, Silver Under Pressure Ahead of Fed Decision

Gold and silver prices are under pressure ahead of the Federal Reserve's interest rate decision. The US dollar is stronger, and investors hope for a hawkish Fed, which could push gold and silver prices lower in the short term.

The daily chart for spot gold shows that prices have been consolidating below the resistance of $4,200. A break above this level would ease pressure, but if it fails to happen, prices will likely reverse to the downside and break the $3,950 level.

The 4-hour chart for spot silver shows strong consolidation between the $55 and $64 levels. A break below $55 may push prices further downward toward the $45 area.