- OCBC (based on CNBC)
The bullion switched into the wait-and-see mode, before the is getting ready to announce its decision later on Wednesday. Gold is backed by the first weekly support at 1,230 for the moment. There is a risk of considerable Dollar's appreciation, in case the FOMC outcome is hawkish. Another , which is capable of limiting a selloff in gold prices, is placed quite away from the spot at 1,210/05. While aggregate daily technical indicators are mixed, the case is not off the table. Any rebound is going to pay attention to the weekly and Feb high at 1,257/63.
Difference between the total percentage of SWFX and positions consolidated at ten points yesterday. SWFX traders seem to be refraining from changing hands ahead of the Fed's meeting, due to uncertainty over decisions they are going to make.