Gold prices experienced a slight decline during early trading as markets potentially adjusted positions ahead of the Federal Open Market Committee's (FOMC) decision scheduled for later today. Spot gold fell 0.1% to $5,002.42 per ounce. According to FXEM's Abdelaziz Albogdady, while the Federal Reserve is expected to keep interest rates unchanged, "any hawkish indications regarding how long policy might remain restrictive could push U.S. Treasury yields and the dollar higher, creating further headwinds for non-yielding assets like gold." The market research and fintech strategy manager added, "Only one rate cut is currently anticipated for later this year, although the Fed's economic projections and commentary could influence monetary policy forecasts."