Gold Prices Dip After Record High as Traders Await Fed Rate Decision

Gold prices have dipped after reaching a record high of $2,589.72 as traders anticipate the Federal Reserve's interest rate decision. There's a 67% chance of a 50-bps rate cut, which could push gold above $2,600, potentially reaching up to $2,660.90. Conversely, a smaller 25-bps cut might disappoint investors, leading to profit-taking and a drop in prices to around $2,531.77.