Gold futures faced pressure during Wednesday's session, dropping below $4,600 an ounce as a strong U.S. dollar and stalled Middle East negotiations influenced market positioning. Traders closely monitored the Federal Reserve, with the CME FedWatch Tool indicating widespread expectations for a third consecutive interest rate pause amid sticky inflation. Looking at industrial markets, Silver futures underperformed while Copper futures consolidated between $5.90 and $6.20. Copper found support from Chinese smelter activity ahead of the May Labor Day holiday, alongside ongoing global supply chain constraints affecting refinement operations in Chile.