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Gold eases heading into FOMC
After a fortnight of trending north, Gold has fallen over the past 5 days. It is currently trading at around $1960, showing a slight decline of approximately 1.35% from its recent high of $1987.53. Price is currently trying to break out of the downward channel that it has been in since late last week, so something to keep an eye on going into the key economic data due out this week. chart All eyes are now on the upcoming FOMC meeting, where the market is currently pointing towards a high probability (over 98%) of a 25bps rate hike on Wednesday. Considering the historical inverse relationship between gold and the ... (full story)