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Bullion Close To 2023 Lows As Waits For FOMC Minutes

GOLD

Gold prices were down 0.3% on Tuesday due to a rise in Treasury yields and have been zig-zagging during APAC trading as the market waits for the FOMC minutes. It has been trading narrowly between $1834.97 and $1838.48 and is current around $1836.40/oz. The USD index is flat today.

  • Trend conditions remain bearish as the Fed is expected to remain hawkish for now. Gold prices are currently close to the early January lows
  • Gold will be focused on the FOMC meeting minutes released later and Fed Williams’ discussion of inflation. There is little in the way of data.

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