Market Anticipation Builds Ahead of Fed's Policy Announcement

In a significant market movement, gold prices experienced a notable decline, dropping by 1.72% to $3,372.81 per ounce, as investors closely watch the United States Federal Reserve's upcoming monetary policy decision. This shift comes amidst President Donald Trump's public suggestions to lower the key benchmark rate and discussions about the potential removal of Chair Jerome Powell.

Precious Metals Market Reacts

Following gold's lead, silver prices decreased by 0.87% to $32.94 per ounce, while platinum saw a 0.37% drop to $983.17 per ounce. Shortly after, palladium also fell by 0.21%, trading at $957.43 per ounce.