FxWirePro: Gold inches higher as dollar weakens ahead of Fed policy
Gold inched higher on Wednesday as US dollar was modestly weaker on expectation that Federal Reserve would strike a dovish tone ahead of Federal Reserve policy statement. The Fed is expected to hold interest rate unchang…
Gold inched higher on Wednesday as US dollar was modestly weaker on expectation that Federal Reserve would strike a dovish tone ahead of Federal Reserve policy statement.
The Fed is expected to hold interest rate unchanged at the meeting, but investors will be keeping a close eye on Feds assessment of US economy.
The yellow metal bounced on the back of weak dollar and continues to remain bid tone ahead of FOMC statement.
To the upside, the strong resistance can be seen 1255, a break above this level would expose the commodity towards 1262 levels.
To the downside immediate support can be seen at 1243, a break below at this level will open the door towards 1234 levels.
