Predicting gold's immediate trajectory following the Federal Reserve's January meeting is no easy task. After all, the metal's price is influenced by a complex interplay of factors, with the Fed's decisions on interest rates playing a pivotal role.

Gold prices dipped slightly as the dollar strengthened, with investors anticipating the U.S. Federal Reserve's interest rate decision later this week. The Fed is likely to maintain current rates, but Trump's economic measures may influence future decisions.