Gold Prices Tumble as Markets Await US Federal Reserve Decision

Gold prices took a slight hit on Wednesday as global markets held their breath for the US Federal Reserve's monetary policy meeting.

The Fed's decision will likely determine the future path of interest rates and inflation trends, with market expectations suggesting that the central bank will leave rates unchanged.

This anticipation has contributed to the dollar's stability, which in turn has put downward pressure on gold prices.

In spot trading, gold edged down 0.1% to $4,021.87 per ounce by 00:52 GMT, while US gold futures for August delivery fell 0.4% to settle at $4,021.70.