Gold prices dipped 0.1% to $5,002.42 per ounce in early trading as investors eyed potential position adjustments before the Federal Reserve's policy meeting later today. While the Fed is widely expected to maintain current interest rates, any hint of future hawkishness regarding the duration of policy support could elevate Treasury yields and the dollar, creating headwinds for non-yielding assets like gold, according to Abdelaziz Albogdady of FXEM. The manager emphasized that only one rate cut is projected for later this year, though the Fed's economic projections and subsequent comments may influence monetary policy forecasts.