17 Dec 2014
Gold in holding pattern ahead of Fed statement – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that Gold is showing little movement today, currently trading below the $1200 line.
Key Quotes
“Gold is showing little movement, as the pair has been listless since sharp losses started off the week. In the US, the FOMC will release its policy statement, and we’ll get a look at November CPI. The markets are expecting a small decline of 0.1%.”
“Gold prices started the week with losses, as the metal shed about 1.8% of its value on Monday, closing at $1198. Gold continues to trade close to the key $1200 level on Tuesday.”
“XAU/USD has been flat in the Asian and European sessions, as the pair continues to hug the 1200 line.”
“On the upside, 1200 is under strong pressure. 1215 is stronger. 1175 is an immediate support level.”
“Current range: 1175 to 1200.”
Key Quotes
“Gold is showing little movement, as the pair has been listless since sharp losses started off the week. In the US, the FOMC will release its policy statement, and we’ll get a look at November CPI. The markets are expecting a small decline of 0.1%.”
“Gold prices started the week with losses, as the metal shed about 1.8% of its value on Monday, closing at $1198. Gold continues to trade close to the key $1200 level on Tuesday.”
“XAU/USD has been flat in the Asian and European sessions, as the pair continues to hug the 1200 line.”
“On the upside, 1200 is under strong pressure. 1215 is stronger. 1175 is an immediate support level.”
“Current range: 1175 to 1200.”