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Gold continued to trade around the price range of $1927-1928 per ounce today, with no significant changes compared to the same time yesterday. The Federal Reserve (FED) has concluded its monetary policy meeting for September 2023, maintaining the interest rates at 5.25-5.5%, the highest level in 22 years.
In response to this information, the US dollar reversed its trend and started to rise in value. The US stock market turned red as a result. Many investors have shifted their capital into USD, causing the currency to appreciate further and leading to a subdued trading session for gold.