Gold rose back above $4,300 per ounce on Wednesday, ending two consecutive sessions of declines ahead of the United States Federal Reserve’s final monetary policy decision.
Oil prices fell after reaching multi-month highs, following a surprise rise in U.S. crude stocks.
Brent slipped below $108 a barrel on Wednesday, after hitting four-month highs, following industry data showing a surprise increase in U.S. crude inventories, despite worsening supply disruptions in the Middle East.
The Federal Reserve is expected to raise the target range for the federal funds rate by 25 basis points, to 3.75%-4.00%, in September 2026.
That would mark the first rate hike since 2023, as inflation remains significantly above the target and the energy shock linked to the war with Iran continues to weigh on the economic outlook.
