Gold prices continue to consolidate, largely trading from $1915/oz to $1975/oz in the past three weeks and Howie Lee from OCBC Bank sees the yellow metal to extend this phase though the Fed’s meeting could be a catalyst for the next direction.
Key quotes
“The consolidation may continue for now until we see a fresh breakthrough in the dollar’s direction, with this week’s FOMC meeting a possible catalyst.”
“Longer-term, we stay bullish on gold.”