Analysts: Before the Federal Reserve meeting, gold prices may trade in the range of $3200-$3350.

GoldenOctober2024

2025-05-05 02:52:47

Jin10 data reported on May 5, gold prices strengthened on Monday, boosted by a weaker dollar, as investors awaited clearer trade policies between the U.S. and its trading partners, and looked forward to the policy decisions to be announced by the Federal Reserve later this week. Tim Waterer, Chief Market Analyst at KCM Trade, stated, “Ahead of this week’s Federal Open Market Committee (FOMC) Meeting, the dollar has been sluggish, which has allowed gold prices to rise slightly. Before the Federal Reserve meeting, we may see gold prices continue to trade in the range of $3200-$3350. However, any new news regarding the trade protocol could lead to fluctuations rising again.”

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