Market Reacts Ahead of Fed's Policy Announcement

In a significant market movement, gold prices fell by 1.72% to $3,372.81 per ounce, as investors brace for the United States Federal Reserve's upcoming monetary policy decision. This decline reflects the market's nervous anticipation, especially in light of President Donald Trump's persistent calls for lower interest rates and his controversial stance on Federal Reserve Chair Jerome Powell.

Precious Metals See Widespread Declines

Alongside gold, other precious metals also experienced downturns. Silver dropped by 0.87% to $32.94 per ounce, while platinum saw a 0.37% decrease, settling at $983.17 per ounce. Palladium wasn't spared either, with a 0.21% fall to $957.43 per ounce, marking a cautious approach from investors across the board.