The Federal Reserve will announce its interest rate decision in the early hours of Thursday morning Beijing time. Prior to that, the price of gold fell to test the $4,000 per ounce mark. Gold fell 0.8% at most, taking back most of the gains of the previous trading day. Oil prices are rising, and traders are concerned about the deadlocked Israeli election. Meanwhile, media reports say that the US has informed the Persian Gulf countries to prepare for a new round of military action against Iran. The market generally expects the Federal Reserve to keep interest rates unchanged this week. This supports gold, which does not generate interest, but traders have taken into account expectations of interest rate hikes before the end of the year. Federal Reserve Chairman Kevin Warsh needs a difficult balance to send investors a signal that the central bank will resolutely curb inflation, which is driven by high energy prices.

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