Gold slips to $4,040 as oil rebounds, Fed rate decision in focus

Gold prices edged lower on Wednesday morning, losing steam after a two-day rally, as the metal slipped to $4,040 from Tuesday’s high of $4,069. The retreat comes after a sharp rebound in crude oil prices and as investors await the Federal Reserve’s closely watched interest rate decision. Brent crude, the global oil benchmark, climbed to $115, while West Texas Intermediate (WTI) advanced to $101.40. Natural gas also saw an uptick, rising 1.78% to $3.05. The resurgence in energy prices followed reports from the Wall Street Journal that President Donald Trump’s administration may launch major military operations against Iran after the upcoming midterm elections.

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