Gold price advances during the North American session after hitting a record high of $3,703 on Tuesday, poised to continue to trend up as traders await the Federal Reserve’s (Fed) monetary policy decision on Wednesday. At the time of writing, XAU/USD trades at $3,689, up 0.27%.
The GBP/JPY cross attracts some selling during the Asian session on Tuesday and for now, seems to have snapped a four-day winning streak to its highest level since July 2024, around the 200.75 region, touched the previous day.
Major central banks will host their monetary policy decisions, though the Federal Reserve (Fed) remains in center stage. Expectations of a resumption of the easing cycle pushed the US Dollar lower, along with US Treasury yields as traders brace for the release of US Retail Sales data.