Gold’s Market Price Hanging in Place

Gold’s Market Price Hanging in Place

$XAU $GLD

Gold markets traded back and forth during the session Tuesday hanging about the $1500 mark the bottom of the consolidation range, as the 50-Day EMA is there where buyers are clustered.

Gold Technical Analysis Video 18.09.19

That does not mean a direct move North right away, but rather there is interest in this market, as it has been so Bullish lately.

This market will react to the Fed during the trading session Wednesday, so the movement may muted until the interest rate decision and the statement after 2:30p ET.

It is hard to imagine that the market will move much, unless of course it has something to do with the risk appetite around the world due to something along the lines of the Middle East situation with Saudi Arabia and Iran.

So, we expect the market to be quiet until the Fed’s announcement, and then it should pick up, as gold is so sensitive to what the central banks do.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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