Gold is currently priced at $1,961, showing a slight increase of $2 compared to yesterday. The Federal Reserve will announce its interest rate decision on Wednesday (26/7), followed by the European Central Bank (ECB) on 27/7, both expected to see significant rate hikes.
The US Dollar Index's recovery at the start of the week has put pressure on gold, which is priced in USD. Gold will trade around its current level until there is clearer information regarding policy guidance from the upcoming Fed meeting.