Free Trial

FOMC Dot Plot Weighs

GOLD

Spot gold has shed $5/oz during Asia-Pac trade, to last deal just above $1,760/oz. This comes after contained 2-way volatility in the wake of Wednesday's FOMC decision, with the event ultimately resulting in an uptick in U.S. real yields and the broader USD as the FOMC's latest dot plot was more hawkish than exp., which weighed on gold. The technical parameters have not changed Monday's low ($1,742.5/oz) provides initial technical support ahead of the 76.4% retracement of the Aug 9-Sep 3 rally ($1,724.5/oz). Meanwhile, firm resistance remains located at the Sep 14 high ($1,808.7/oz).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.