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Gold prices dipped on Monday, pressured by a firmer U.S. dollar, as investors focused on the upcoming Federal Reserve meeting. The precious metal's decline comes amid expectations that the Fed may signal a more hawkish stance to combat inflation, potentially leading to higher interest rates. A stronger dollar makes gold more expensive for holders of other currencies, thereby reducing its appeal.

Despite this downturn, some analysts believe that ongoing economic uncertainties and geopolitical tensions could continue to support gold prices in the long term. Investors are advised to monitor the Fed's announcements closely, as any indications of policy shifts could significantly impact gold's performance in the coming weeks.

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