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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.”