Gold price retreats as Fed holds rates, hawkish dots bite

Gold (XAU/USD) price declines as the Federal Reserve (Fed) keeps rates steady at 3.50% to 3.75% on Wednesday, while the Summary of Economic Projections (SEP) shows policymakers expect inflation above the 3% threshold. At the time of writing, XAU/USD trades volatily within the $4,330-$4,280 range.