# Gold Price Drops Below 4,070 as FOMC Press Conference Approaches

> Gold price falls below 4,070 ahead of FOMC press conference.
- Title: Gold Price Drops Below 4,070 as FOMC Press Conference…
- Summary: Gold price falls below 4,070 ahead of FOMC press conference. Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches.
- Keywords: xauusd, fomc, press conference, gold price, 4070, bearish, market structure, business, finance, Gold, Price, Drops
- Source: TradingView — https://tradingview.com/chart/XAUUSD/OVUVNOF5-XAUUSD-3H-Bearish-Below-4-070-FOMC-Press-Conference-Test
- Published: 2026-10-28T18:17:37+00:00
- Read time: 1 min
- Topics: xauusd, fomc, press conference, gold price, 4070, bearish, market structure, business, finance
## Gold Price Drops Below 4,070
Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches.
## FOMC Press Conference Key Event
The Fed statement was released at 11:00 PM PKT with headlines reporting a hold, and the press conference at 11:30 PM PKT is the key event.
## Market Structure Analysis
Gold remains bearish on the 3H chart with a corrective bounce rejected at the descending trendline near 4,070.
## Bullish Confirmation Needed
A bullish ChoCh appeared but requires a 3H close above 4,073 for confirmation.
## Key takeaway

Gold price dropped below 4,070 on the 3H chart as the FOMC press conference approaches.