On Tuesday's Asian session, gold was traded in the green zone, 0.12%. Supporting quotes continue to the risks associated with trading the US and China talks. Investors fear the introduction of new trade duties by the US on 15 December. On the eve of White House advisor, Jared Kushner said that Trump has not yet made a final decision on the matter. Adverse market perceives and reports Wall Street Journal, about the upcoming bill to ban the use of public funds for the purchase of Chinese buses and cars. The bill could harm the negotiations between the US and China.
A strong deterrent effect on the trading session has a two-day FOMC, which begins today. The final speech of the Fed could have a very strong impact on the dynamics of the dollar and gold, respectively. So you should now expect to continue trading in a limited range of horizontal.
In the graph expect consolidation in the range of 1460.00-1467.50. Rely on the formation of a strong movement will be after the price fixing of one of the outset borders.
Levels of resistance: 1467.50, 1480.00, 1490.00;
Support levels: 1460.00, 1455.00, 1450.00.
The main scenario - consolidation in the horizontal channel 1460.00-1467.50.
Alternative - the breakdown of support at 1460.00 and decline to 1455.00.
Fundamental background - neutral. Within days, you can consider buying and selling tool from 1460.00-1467.50 range limits
Gold forecast today FORTFS