Gold Price Forecast: Fed and Thursday PCE Keep Sellers in Control - FXEmpire

AI desk brief

Spot gold is holding just under $4,000 as the Fed meeting begins, with a stronger dollar and last week’s 4% drop keeping sellers in control. The article says traders are focused less on Wednesday’s decision and more on Fed guidance plus Thursday’s PCE release, with headline PCE expected at 3.6% YoY and core at 3.1% YoY; a hotter print would likely lift December hike odds and pressure gold further.

Key downside levels are $3,975.65, then $3,942.10 and $3,886.46, with the latter flagged as a major pivot from the 2025 low. Resistance sits at $4,096.52, $4,199.08/$4,217.40, and the 50-day average near $4,287.52; the note keeps a bearish bias unless gold can reclaim those levels.