Gold (XAU/USD) price retreats slightly on Wednesday following the Federal Reserve decision to keep rates steady, while also signaling that the labor market stabilized, which warrants maintaining the Fed funds rate higher for longer. XAU/USD trades volatily between $5,250 and $5,300 ahead of the Fed Chair Jerome Powell's press conference. Gold’s reaction to the Fed’s decisionGold price edges towards the $5,290 region, before retreating below $5,280. XAU/USD's first reaction to the upside suggested that initially, traders saw the decision as dovish, due to the two dissenters. But the statement revealing that the labor market is showing signs of stabilization prompted traders to buy the Dollar.