BusinessGold Faces Key Levels Amid Fed Rate Hike and Market Watch
The Federal Reserve raised rates by 25 basis points to 3.75%–4.00%, supporting the USD and keeping yields high, which increases the cost of holding gold. Markets await further Fed guidance and upcoming US data including PMI on September 23 and jobless claims on September 24. Gold remains capped below a descending trendline with key levels between 4,260 and 4,400. Traders watch if gold will break below 4,300 or reclaim 4,400, signaling bearish continuation or bullish reversal.
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