Spot gold is currently trading at $4,154.70 an ounce, a 1.28% decline, while silver has tracked lower to $64.690, down 1.35%. This retreat follows the FOMC's decision to maintain the federal funds rate at 3.50% to 3.75%. The central bank’s recent rhetoric highlights persistent inflation, signaling a more restrictive monetary path than markets previously anticipated.

Market analyst Fawad Razaqzada of FOREX.com notes that the technical outlook remains bearish. He identifies $4,100 as the primary support level for gold, with potential for further slides toward $4,023 should selling pressure intensify. Conversely, buyers face significant resistance at $4,170. As the geopolitical risk premium fades, traders are shifting focus toward upcoming economic indicators, including next week’s manufacturing PMIs, durable goods reports, and PCE inflation data, which will serve as the next litmus test for the Federal Reserve’s inflation-fighting resolve.