Gold Softer Ahead of FOMC



Gold prices are trading modestly lower and near the daily low in late-morning dealings Wednesday. Some position evening and profit taking ahead of the afternoon statement from the Federal Open Market Committee (FOMC) are featured. Trading activity in many markets, including gold, could become more active in the immediate aftermath of the FOMC statement, should there be any new monetary policy clues contained in the wording. February gold was last down $4.20 an ounce at $1,116.00.

via Kitco

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza