Spot Gold Turns Lower, Nears Intraday Low of $4,275.57

The intraday reversal matters less than the sequence: gold spiked on the Fed's rate-hike announcement, then gave the move back. That is a classic sign that the initial read of the decision was mechanical rather than conviction-driven, with the metal unable to hold a level it reached in the first minutes. The open question is whether the pullback toward the earlier low reflects genuine repricing of the rate path or just thin, headline-driven trading that fades once the announcement is digested.