**Gold Prices Rise Ahead of Key Federal Reserve Meeting and US-China Summit**
By Dean Popplewell
Gold prices have risen around 1.5% from the European session lows, currently trading near the $3960/oz level at the time of writing. This movement comes as financial markets prepare for the Federal Reserve’s (Fed) announcement scheduled for Wednesday, where a widely expected 0.25% cut in the benchmark interest rate is anticipated.
Market participants are also closely watching the anticipated meeting between US President Donald Trump and Chinese President Xi Jinping later this week. Investors hope that the leaders will find a way to de-escalate ongoing trade tensions and prevent further deterioration in international economic relations.
From a technical perspective, gold followed through on last week’s double top pattern, experiencing a significant decline with very little pullback. Earlier today, gold prices sharply dropped below the $3900/oz mark, reaching a three-week low. This selloff is attributed to a variety of factors, notably increasing [Note: incomplete in source].
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**About the Author**
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. With a deep understanding of market fundamentals and the impacts of global events on capital markets, Dean is highly respected among professional traders. His career includes serving as the global head of trading for prominent firms such as Scotia Capital and BMO Nesbitt Burns.
Since joining OANDA in 2006, Dean has played an instrumental role in raising awareness of the forex market as an emerging asset class for retail investors. He also provides expert counsel to internal teams on effectively serving clients and industry stakeholders.
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