Gold Price Consolidates As Fed Meeting Begins

KitcoNews/Peter Hug/09-19-17

Gold traded in a narrow range overnight, as traders set up into the Federal Open Market Committee meeting beginning today. Eyes and ears will also be tuned to the President’s speech at the U.N., where North Korea will certainly be a focus point. Gold is at a short-term crossroad. The trend for the dollar remains lower but bounces, as we have seen, are consistent with the pattern over the past few months. The market was positioned aggressively from the long side and profit taking was to be expected.

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