FX.co ★ Gold Falls as Profit-Taking Seen

Gold prices fell below $2,630 per ounce on Monday, pulling back from last week's record highs as investors chose to secure profits ahead of an important decision from the US Federal Reserve. Traders are currently anticipating a 25 basis point reduction this week in response to indications of a weakening labor market. Some speculate that such easing measures could continue into the next year. Prior to the Federal Reserve's announcement, focus will be on retail sales and industrial production data, which could provide further insights into the robustness of the US economy. Additionally, on Sunday, the Trump administration renewed its appeal to a federal court to dismiss Fed Governor Lisa Cook, increasing concerns regarding the independence of the US central bank. Simultaneously, market participants are keeping a close eye on US-China discussions, which have entered their second day in Madrid.