- The price of gold remains consolidation below $ 3,400 because the markets are waiting for the FOMC meeting.
- Economic projection and dot plots FED are key to watching.
- Geopolitical worries and stronger dollars can keep the momentum neutral.
The price of gold remains under pressure, stores at 3,383 dollars, at the time of writing, during the London’s session. The market participants are impatiently awaiting a decision on highly expectation of Fed. A valuable metal that hit a fresh two-month vrh, at the beginning of this week. However, it is now cautious in the middle of geopolitical concerns and weaker data.
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Participants in the market are broadly fed in order to maintain rates. However, the focus was transferred to updated economic projections and a dot board. The expectations that were separated between one and two cuts of 2025. Year, while the tone and language, the Fed can start dollars of dollars and gold prices. Although there is a risk of slope in a slope in the middle of tariff concern and inflation that leads oil, weaker economic data supports case for a brown tone.
The American inflation seems to be facilitated, with the CPI and PPI figures they entered softer than the expected aligned with a fed 2%. The chances of changing politics have been executed by September. Markets currently appreciate 50 BPS reduction rate until the end of 2025. Year, while real returns go and miss, expecting coming. If Fed confirms this path, gold can be gathered towards all the time.
On the other hand, the geopolitical situation in the Middle East remains elevated. Iran-Israel’s conflict continues for a sixth day, while the aggressive position of aggressive attitude also encouraged the demand for safe refuge. Despite this, a strong dollar keeps gains limited.
Gold price Technical Outlook: The side moves under the 20ths
The 4-hour chart displays consolidation below $ 3,400. The price remains under the key 20-period, which signals the short-term weakness. RSI is also sideways near level 50.0, suggesting a neutral view. The support area lies about $ 3,340 forwards of $ 3,300.
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On upside, finding acceptance above the 20-period $ 3,400 is important to continue SastRand. Spread breakthrough can test $ 3,440 in the eve of all time to $ 3,500.
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