Gold Swings as Traders Await Fed's Decision on Interest Rates.

U.S. dollar; BOARD of Governors of the Federal Reserve System (U.S.); BLOOMBERG LP; PRECIOUS metals; STOCK prices; INTEREST rates; PALLADIUM

Gold prices are fluctuating as traders await the Federal Reserve's decision on interest rates. The precious metal reached an all-time high last month but has since dropped slightly due to souring rate-cut expectations for the next Fed meeting in November. Despite this, gold is still up by over 25% this year, fueled by rate-cut optimism and robust purchases by central banks. Money managers have decreased net-long gold bets to an eight-week low, and exchange-traded funds have also cut holdings. At the time of reporting, spot gold was down 0.3% to $2,649.10 an ounce. [Extracted from the article]

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