The Federal Reserve is set to conclude its final Federal Open Market Committee (FOMC) meeting of the year on Wednesday, December 18.

Gold futures are currently in the midst of a price correction after hitting a double top near $2,750. On Wednesday, December 11th, gold opened at $2,721 and reached an intraday high of $2,760, the highest level since the $2,654 low on December 6th.

The gold market experienced significant turbulence recently, with prices dropping approximately $50 following the release of the November Producer Price Index (PPI) report.