Gold prices fell slightly in tonight's US session after previously hovering near a seven-week high. Amidst the already high levels, many market participants opted to take profits, leading to selling pressure, although the trend remains bullish. Several market reports indicate spot gold has fallen around 0.2–0.5% from its peak, while gold futures have weakened only slightly and remain in the upper range.

In addition to profit-taking, gold was also pressured by a slight strengthening of the US dollar and rising US bond yields, as the market began to digest the Fed's decision and signals about the future direction of interest rates. Therefore, although the medium-term outlook is still supported by expectations of further rate cuts and gold's position as a safe-haven asset, in the short term, prices are understandably struggling a bit because:
buying positions are already very full following the post-FED rally, and
some funds are shifting to stocks as the US stock market strengthens,
and the market is awaiting further data and Fed comments before investing in gold again. (Cay)

Source: Newsmaker.id