Gold Ahead of the Fed
Gold is consolidating around $3,650 (near resistance), still supported by a weak USD and subdued US yields. Key levels: $3,675 (recent high) above, with $3,626 as support.
FOMC decision is decisive: dovish (-25 bps + further signals) → USD likely to weaken → gold likely to rise; More cautious/hawkish → USD could bounce → Gold vulnerable to correction to the support area. (ayu)
Gold price at the time of writing was $3659
- Buy if the price moves within the $3664 range
- Sell if the price moves within the $3654 range
Resistance 2: $3670
Resistance 1: $3664
Support 1: $3654
Support 2: $3649
DISCLAIMER
Note: This article is analytical and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id