The U.S. Federal Reserve meets on Wednesday and Fed Chair Jerome Powell is expected to signal that he has no plans to wind back the Fed’s massive stimulus any time soon – news which could push the dollar further downside. We could be looking for gold as a ranging momentum until the Fed’s release interest rate and monetary policy decisions on Wednesday.
- The price action suggests small investor indecision but this time of trading action usually leads to a volatile breakout move. The direction is unclear at this time due to the offsetting fundamentals. Also treasury yields are falling sharply, but gold is trading lower. This tells us just how weak demand for gold si at the moment.
- The price action suggests small investor indecision but this time of trading action usually leads to a volatile breakout move. The direction is unclear at this time due to the offsetting fundamentals. Also treasury yields are falling sharply, but gold is trading lower. This tells us just how weak demand for gold si at the moment.