GOLD AT CRITICAL SUPPORT: FOMC Minutes Could Trigger Next move

Current Market Situation:
Gold opened with a significant gap up on Monday but failed to claim above the 3450 level. Since then, the price has been in pullback mode and is now sitting at a critical major support zone.
Key Support Zone:

Upper Level of support zone: 3,385
Lower Levelof support zone: 3,360

This support zone represents a crucial decision point for gold next directional move.
Today's Catalyst:
The FOMC minutes release today will likely be the key driver that determines gold's next move. This fundamental event could provide the momentum needed to break the current consolidation.
Two Potential Scenarios:
Bullish Scenario:
If gold successfully holds above the support zone (particularly above 3,360:lower level of this zone) and manages to reclaim Monday's high around 3,450, we could see a strong buying rally develop that can push price to 3500 or higher levels. This would indicate that the pullback was merely a healthy correction before the next leg higher.
Bearish Scenario:
If gold breaks below the lower support level of 3,360, it would signal further weakness and we could see the price targeting lower levels. This break would invalidate the current support structure and open the door for extended selling.