Gold Softer Ahead of FOMC

January 27, 2016 Share Print 0

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

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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, Alfonso Esparza 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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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.