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Societe Generale analysts discuss persistent headwinds for the Indian Rupee (INR) against US Dollar (USD) as India faces large Oil and Gold import bills.

Gold (XAU/USD) is seen consolidating around the $4,600 mark during the Asian session as traders keenly await the outcome of a two-day FOMC policy meeting, due later this Wednesday.

Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.

XAU/USD declined 1.85% on Tuesday, closing near $4,596 after the spot session pushed down to a low close to $4,555 before recovering modestly into the New York close.

TD Securities’ Head of Commodity Strategy, Bart Melek, argues that Gold is under pressure as Oil-driven inflation keeps real rates elevated and raises the opportunity cost of holding the metal.

Gold (XAU/USD) slips to a near one-month low, pressured by a firmer US Dollar (USD) and mounting Oil-driven inflation concerns, as investors await clearer signals on stalled diplomatic efforts between the United States (US) and Iran to end the war.

Gold (XAU/USD) trades with a negative bias below the $4,700 mark for the second consecutive day and slides back closer to last week's swing low during the Asian session on Tuesday.

Gold price (XAU/USD) slumps to near $4,685 during the early Asian session on Tuesday. Markets turn to "wait-and-see" mode ahead of the US Federal Reserve (Fed) interest rate decision and shifting developments in the Middle East conflict.

Gold (XAU/USD) price drops during the North American session on Monday as the Greenback trims some of its earlier losses amid a mild deterioration in risk appetite, driven by the lack of progress in US-Iran negotiations. The XAU/USD pair trades at $4,673, down 0.75%.

Gold (XAU/USD) holds firm at the start of the week as fresh US-Iran headlines improve market sentiment, even after talks over the weekend failed to materialize. At the time of writing, XAU/USD is trading around $4,704, little changed on the day after hitting an intraday peak of $4,730.

ING’s Warren Patterson and Ewa Manthey observe that managed money net long positions in COMEX Gold have declined, with investors turning more cautious.

Gold’s (XAU/USD) has opened the week in the same cautious mood that ended the last one. The precious metal keeps hovering within a tight range around $4,700 at the time of writing, with doji candles on the daily chart highlighting an indecisive market.

Gold (XAU/USD) attracts some dip-buyers at the start of a new week and rallies over $50 from the Asian session low, around the $4,672 region.