GOLD COMEX
Will XAUUSD Hold on to the Support $1285 – $1282
The precious metal has been consolidating above the support area of $1285 – $1282 for the past five daily sessions.
Gold Trade in Tight Zone Above $1290 ahead of US Data
After gaining around $5 on Tuesday, the XAU/USD pair is staying relatively calm on Wednesday as the upbeat market sentiment doesn’t allow the precious metal to take advantage of the broad USD weakness. As of writing, the pair was virtually unchanged on a daily basis at $1292.50.
Spot Gold Needs a Break $1313 For Target $1321—$1330
Gold is reporting moderate gains at press time, possibly tracking the weak tone in the greenback ahead of the Fed.