Gold prices drifted below $1370 ahead of the Fed two day meeting scheduled today. The main report of Fed meeting will impact the markets in such a way that.
1. If Fed starting to taper its QE program , then the stock markets which are doing good, Dow Jones. Will go burst upside and Gold will drag. Many analysts speculating whether Fed will give details of when and how it might slow down its quantitative easing program.
2. If here isn't any tapering and any interest rate unchanged then gold may take a turn upside.
" Technically still the trend is negative to bearish note from commerzbank "
The whole market is dependent on Fed's speech, every word will turn the market, Fed is about to accelerate every single word so precisely in his meeting today.
To watch out: ●●●"The Federal Open Market Committee begins its latest two-day monetary policy meeting today, with a decision due tomorrow"●●●