Gold Hovers at Major Support Ahead of NFP

From traderslog.com

Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower.The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent andupgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price is nearing the recent low of $1,211. Spot gold is now down 6% for 2018. Despite global trade tensions, gold and other traditional ‘safe havens’ have failed to be lifted. Meanwhile, a more robust U.S economy and higher interest rates have caused investors to migrate to ... (full story)