Gold Stuck in Neutral as Fed Keeps Rates Steady

Gold prices consolidated below $4,100 after the Federal Reserve's (Fed) decision to keep interest rates unchanged at its July meeting.

The US Dollar's weakness provided some support for gold, but rising Treasury yields continue to cap gains.

XAU/USD remains range-bound between $4,000 and $4,200, with momentum indicators indicating a neutral bias.

Gold briefly pushed above $4,100 after the Fed kept rates steady, prompting traders to unwind positions built around the possibility of a surprise hike and triggering a sharp pullback in the US Dollar and front-end US Treasury yields.