Gold rose 0.68% to $4,331 heading into the Fed decision.
Bull case
- Pre-FOMC positioning favors gold on hold/cut expectations (MEDIUM)
- Central-bank buying continues at a strong pace (MEDIUM)
- Technical structure holding above near-term support (LOW)
Bear case
- Hawkish FOMC surprise risk into the meeting (MEDIUM)
- Dollar strength capping the rally (LOW)
Levels that matter: Support $4,297 / Resistance $4,333.