Gold price hangs near one-week low; traders seem reluctant ahead of FOMC meeting

Gold price hangs near one-week low; traders seem reluctant ahead of FOMC meeting

Gold price enters a bearish consolidation phase near a one-week trough touched on Monday. Bets for a less dovish Fed seem to cap the XAU/USD ahead of the FOMC meeting this week. Geopolitical tensions, softer US bond yields and USD offer some support to the XAU/USD.

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