Gold Holds Near Four-Week Low, Focus on Fed Decision

Gold prices remained close to a four-week low on Wednesday, as investors awaited a U.S. Federal Reserve policy decision that could clarify the central bank's interest rate plans after recent strong U.S. economic data.

Technically:
The price of gold has recently experienced a decline, aligning precisely with our projected target. Currently, it continues on its trajectory toward the next support level of 2278 and 2260.

We anticipate a period of consolidation within the range of 2278 to 2302. It is noteworthy that as long as the price remains below 2302, it will reach 2260.

Any breach above the 2302 level will start the bullish trend, potentially leading to a gradual to 2315 and ultimately to 2327.

Pivot Price: 2294
Resistance Levels: 2302, 2315, 2327
Support Levels: 2278, 2260, 2237

Today's anticipated trading range is between the support level at 2260 and the resistance level at 2302.