Gold’s choppy trading extends post-Fed rate hike decision. Markets awaiting Powell’s speech for clarity on the FOMC statement. Gold prices on Comex jumped to $ 1204.50 levels after the US dollar got broadly sold-off after the FOMC removed the reference to the accommodative monetary policy, which markets thought would keep the Fed away from hiking rates in the coming year. Eyes on Powell’s speech However, Fed’s optimistic outlook on the US economic growth and hawkish dot plot chart offered some support to the USD bulls, pushing the yellow metal back to 1201 region. The ‘dots plot’ chart showed 12 out of 16 members now see four rate hikes this year. Traders will look for more trading impetus from the FOMC press conference, where President Powell will speak and address the Q&A session. Gold Technical Levels Higher Side Levels: 1210 (round number), 1215.80 (Sept 21 high), 1217 (Aug 28 high). Lower Side Levels: 1200 (key support), 1197.80 (daily lows), 1190.40 (Sept 11 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US 10-year yields bounce off 4- day lows post-FOMC FX Street 4 years Gold's choppy trading extends post-Fed rate hike decision. Markets awaiting Powell's speech for clarity on the FOMC statement. Gold prices on Comex jumped to $ 1204.50 levels after the US dollar got broadly sold-off after the FOMC removed the reference to the accommodative monetary policy, which markets thought would keep the Fed away from hiking rates in the coming year. Eyes on Powell's speech However, Fed's optimistic outlook on the US economic growth and hawkish dot plot chart offered some support to the USD bulls, pushing the yellow metal back to 1201 region. The 'dots plot' chart showed 12 out… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
