Gold prices plunge again ahead of key data, FOMC meeting

Gold markets have been experiencing a decline since the start of Monday’s North American session due to increased risk appetite and anticipation of interest decisions from the Fed and the ECB. Gold futures fell -1.15%, below $1981, trading at $1980.85 per ounce at the time of writing.

Earlier on the day, the precious metal contracts reached their highest level at $2,008, compared to the lowest level of $1976.

The FOMC is expected to announce its interest decision next Tuesday and Wednesday, which may include keeping current rates unchanged or raising them higher.

The Fed is expected to keep the interest rate unchanged at the current December meeting, the third time the central bank has refrained from making any change in monetary policy.