The Federal Reserve's decision appears to promote buying GOLD

The Federal Reserve's decision looks to support the "buy the dips" strategy for gold.
As traders stay away from the market ahead of the crucial Fed monetary policy announcement, the price of gold is floating aimlessly below $1,930 early on Wednesday. Weak US Treasury bond yields and cautious markets are making it difficult for the US Dollar to gain momentum. Gold bulls trade cautiously as we approach the crucial US Federal Reserve policy statement because of the active rising wedge collapse.
On Tuesday, the shiny metal fell quickly to the $1,900 mark before mounting a strong recovery. From a short-term technical standpoint, this shows that the gold price is still a "buy the dips" play.
The impending Fed event will provide the price of gold a definite direction for the ensuing weeks. To counteract the recent pessimistic sentiment, Gold purchasers must find acceptance above the $1,935 barrier. The advance higher could test the psychological threshold of $1,950 further up before advancing on the $1,960 supply zone.