Gold futures reached a peak above $2,750 per troy ounce on Wednesday, December 11, marking the beginning of a significant price decline that would persist over the following six trading days.

The Federal Reserve concluded its final FOMC meeting of the year today with an anticipated 25 basis point rate cut, setting the benchmark "Fed funds" rate between 4¼% and 4½%.

Gold continues to experience downward pressure for the fourth consecutive trading session, with the most active February futures contract dropping $6.70 to settle at $2,663.50.