Gold Analysis Ahead Of FOMC

At the last FOMC, Gold prices end lower, then move up as the Fed signals no interest-rate hikes through 2022. During this period, FED didn't change its policy a lot.

The pandemic has not finished yet, so it is hard to predict what will happen with the gold price.

But, in the daily chart, the gold price has broken below the long-term trend line. So, technically market is bearish, there is no doubt. So, how long can it drop? I think as long as the pandemic is not going to over, gold won't drop much. 1680 is strong near-term support.

Today is the FOMC, and FED hints for no bank rate changes history will repeat like last FOMC. Gold will drop first and then will up again.


If the gold price breaks below the 1800/1795 price zone, the gold price may test the 1775 to 1770 price zone. If the FED is too hawkish more ever gold may test the 1750.00 price zone.

On the other side, the weekly high is the 1815 price zone. Technically breaking above 1815, gold may move up to the 1840/1845 price zone. If the FED is to Dove final target to the upside is the 1875 price zone.