Gold is losing ground as traders remain focused on Fed decision and changes in Fed policy outlook. Yesterday, Fed left the federal funds rate unchanged but raised its federal funds rate projections for 2026, 2027, and 2028. According to updated projections, the federal funds rate is expected to reach 3.8% in 2026, 3.6% in 2027, and 3.4% in 2028. Put simply, the central bank expects that it would raise rates in 2026 and would not rush to cut them in the next two years. Higher interest rates are bearish for gold and other precious metals that pay no interest. Traders also focus on U.S. dollar’s strong rally. U.S. ... (full story)