Gold is consolidating above $4,000 as traders opt to wait for the crucial FOMC decision due later this Wednesday for more cues about the Fed’s future policy path. The outlook, in turn, will influence the US Dollar and provide some meaningful impetus to the non-yielding bullion. In the meantime, the risk of resumption of US-Iran hostilities continues to remain a drag on the bullion, as Oil prices find fresh demand.
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