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Gold Price Futures Technical Analysis - Rangebound Ahead of Fed Decisions

From fxempire.com

Gold futures are trading flat on Tuesday as traders position themselves ahead of the Fed’s interest rate and monetary policy decisions on Wednesday. Traders have priced in a 25-basis point rate cut by the central bank, however, the focus by traders will be on how policymakers feel about additional rate cuts in October or December. At 12:15 GMT, December Comex gold is trading $1511.40, down $0.01 or -0.01%. A weaker U.S. Dollar, falling Treasury yields and a dip in demand for risky assets is also contributing to the intraday rebound rally in gold. Volume is below average as many of the major players have taken to the ... (full story)

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  • Category: Technical Analysis