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Fourth Day Of Gains Ahead Of FOMC Minutes

GOLD

Gold is 0.2% higher in the Asia-Pac session, after closing 0.4% higher at $2024.41 on Tuesday.

  • Tuesday’s move was the fourth consecutive day of gains as traders awaited the release of Federal Reserve minutes and remarks from policymakersthat may shed light on the path of interest rates.
  • The market’s focus is now tuned to the release of the Federal Reserve minutes of its recent meeting on Wednesday.
  • A handful of Fed speakers are also scheduled to speak this week. Among them, Minneapolis Fed chief Neel Kashkari will address economic trends and the outlook on Thursday. Fed Governor Christopher Waller is also due to speak on Thursday.
  • Technically significant levels on the topside remain much further out. The yellow metal needs to clear resistance at $2065.5, the Feb 1 high, to reinstate a bullish theme.
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