Overview Gold (XAU) prices are facing downward pressure on Monday as the dollar maintained its strength, while market participants eagerly awaited the release of U.S. inflation data and the Federal Reserve’s decision on interest rates. Although the Federal Reserve is widely anticipated to keep interest rates unchanged, it is unlikely to adopt a dovish tone that would attract gold bulls back into the market significantly. Based on Fed fund futures, there is a 73.6% probability that the U.S. central bank will maintain its benchmark overnight interest rate within the 5.00%-5.25% range when its two-day meeting concludes on Wednesday.