The post-FOMC bid (with the meeting............>

GOLD: The post-FOMC bid (with the meeting revealing a change in the assessment

of household consumption, tweaks to statement language surrounding inflation &

repo ops through at least April), coupled with a heavy end to Wednesday for

equities (Fed Chair Powell pointed to "somewhat elevated" asset valuation

levels, while Facebook struggled in after hours trade in the wake of its latest

earnings report), provided the yellow metal with some support

- The continuing uptick in Coronavirus case, as well as the death toll weighed

on risk is Asia, providing a fresh round of support, which leaves spot bullion

at $1,579/oz, a couple of dollars or so higher on the day.

- Bulls now look to $1588.7/oz, the Jan 27 high, as the initial point of

resistance, while support lies at $1556.6/oz, the Jan 24 low.