Fed meeting looms large as gold hovers near $2,650 and silver tests $30 support. Investors brace for potential rate cut signals that could reshape precious metals market trajectory.

Gold prices inched higher on Monday as investors anticipated a potential interest rate cut by the Federal Reserve this week, with focus on the central bank's language on rate cuts next year.

Gold prices held steady on Monday as investors awaited the Federal Reserve's upcoming meeting, where a third interest rate cut this year is anticipated. While a quarter-point reduction is expected, future rate cuts remain uncertain.