Gold

Key insight

$4,266 now; loss of $4,300 flips it to resistance. Next technical floor is $4,200 round number / prior consolidation base. USD strength + oil rally dominate Monday's macro narrative against gold.

Drops 1.9% to $4,266 — breaks below $4,300 CPI-era support; USD/JPY surges to 154.8 and oil spikes 3%, rotating safe-haven flows away from gold.

Main risk

FOMC Rate Decision & Fed Signals

Fed holding rates elevated keeps real yields positive; any hawkish signal at next FOMC crushes gold's non-yield appeal below $4,200.