- Gold is up but without significant strength on Monday.
- XAU / USD remains on sideways.
- Key week with a decision from the Federal Reserve, which can have a high impact.
The Gold is rising on Monday albeit at a moderate pace and is still well below $ 1800. After hitting a high since Wednesday at $ 1791, the precious metal lost steam and fell back to $ 1785, where it is trading.
The advance looks moderate at the start of the week after the Federal Reserve’s decision. It is expected that there will be an announcement of further reduction in the purchase program and also signs of possible increases in interest rates, earlier than previously expected. This keeps the dollar with some support.
From a technical point of view no clear signals for XAU / USD, which continues to range around $ 1775/80. A firm break above $ 1795 would clear the way for a test and rally above $ 1800. In the opposite direction, the first support appears at $ 1770, and below it will remain $ 1760.
A clear path is not expected before the Fed. Other banks will also decide on monetary policy, which implies that there may be an increase in volatility these days.
Technical levels
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