The price of gold in the United States slightly decreased before the announcement of the Federal Open Market Committee, possibly due to position adjustments.

Gold prices edged slightly lower in early trading as the market may be adjusting positions ahead of the Federal Open Market Committee's decision later today. Spot gold fell 0.1% to $5,002.42 per ounce. Abdelaziz Albogdady of FXEM said in an email that although the Federal Reserve is expected to keep interest rates unchanged, "any signs that policy may remain tight for longer could push up U.S. bond yields and the dollar, providing more resistance to non-interest-bearing assets like gold." The market research and fintech strategist added, "It is currently expected that there will only be one rate cut later this year, but the Fed's economic forecasts and comments could influence monetary policy expectations."