September Gold futures experienced a second straight session of declines accompanied by the highest trading volume seen since late June. The market is currently forming a base as it heads toward multi-day closing lows. Market participants are primarily focused on the upcoming FOMC policy decision, where there is a 68.5% probability of interest rates remaining unchanged. Pre-meeting uncertainty is currently at levels not seen since the Alan Greenspan era, elevating the importance of any forward-looking tone regarding a potential September rate stance. Despite these shorter-term, rate-driven price swings, gold continues to find a structural floor through consistent central bank accumulation as part of broader reserve diversification strategies. Traders are also monitoring upcoming monetary policy decisions from the Bank of England and the Bank of Japan later this week.