Mixed Results for Precious Metals as Markets Await Fed Meeting.

The gold market has experienced weekly losses ahead of the Federal Reserve's interest rate decision as markets re-priced expectations for a rate skip on Wednesday, followed by a rate hike in July. The highly anticipated inflation report revealed a contradictory outlook for the U.S. Analysts remain cautious despite cooling inflation, which unlocks a pause option for the Fed. The focus for the gold market will be the updated economic forecasts, the dot plot, and Fed Chair Jerome Powell's press conference.