Gold drops to near four-week low as key FED meeting in focus

Gold declined to near the lowest level in four weeks as the U.S. dollar and bond yields rebounded ahead of a key Federal Reserve meeting. Bullion’s retreat from the highest level since January earlier this month came as investors weigh inflation pressures and the Fed’s monetary policy path. Expectations are that the central bank won’t signal scaling back bond purchases until August or September, even if it delivers projections for interest-rate liftoff in 2023.

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