Gold dropped from peak to 2,340 USD before Fed information
After CPI rose to a three-day high past the $2,340/troy ounce mark, gold prices now appear to have digested that initial move and returned some gains amid a weaker dollar and Yields fell ahead of the FOMC event later in the session.
The 2340 level is unlikely to hold before the FOMC. The 2352 resistance zone will be better for you if you want to SELL gold. Today it is predicted that the FOMC will continue to support the dollar, so the possibility of gold falling will be very high. Scalp support may be around the old bottom of 2390
After CPI rose to a three-day high past the $2,340/troy ounce mark, gold prices now appear to have digested that initial move and returned some gains amid a weaker dollar and Yields fell ahead of the FOMC event later in the session.
The 2340 level is unlikely to hold before the FOMC. The 2352 resistance zone will be better for you if you want to SELL gold. Today it is predicted that the FOMC will continue to support the dollar, so the possibility of gold falling will be very high. Scalp support may be around the old bottom of 2390
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