FED TAKE NO NEW STEPS ON WEDENSDAY MEETS: GOLD SETTLE $ 1607.30 (GCZ12)
FOMC officials left rates unchanged, as expected, and largely left the post-meeting statement unchanged as well. Some investors might have been anticipating the Fed to signal more convincing signs of quantitative easing. The kneejerk reaction sent yellow metal lower, but the selling not gathered any significant momentum .
The day’s other news included ADP’S monthly jobs report that showed the US economy added 163,000 private sector jobs last month. The number was almost 40,000 better-than-expected and comes ahead of the Labor Department’s widely-watched report Friday.
The all eyes now on European Central Bank rate announcement and Mario Draghi’s comments at the accompany press conference will dominate Thursday.
TODAY LEVEL (GCZ12)
RESISTENCE #2......................... $ 1631
RESISTENCE #1......................... $ 1621
PIVOT ........................................ $ 1607
SUPPORT #1.............................. $ 1594
SUPPORT #2.............................. $ 1583
MCX (OCT FUTURE)
RESISTENCE #2.................. INR 30300
RESISTENCE #1.................. INR 30180
PIVOT.................................. INR 30050
SUPPORT #1....................... INR 29920
SUPPORT #2....................... INR 29790
Happy Trading
Rahul Kumar
Gold Specialist (Spot & Future)
Call : +91 895-8173-410
Join us for daily update : http://facebook.com/comexgoldfuture
FOMC officials left rates unchanged, as expected, and largely left the post-meeting statement unchanged as well. Some investors might have been anticipating the Fed to signal more convincing signs of quantitative easing. The kneejerk reaction sent yellow metal lower, but the selling not gathered any significant momentum .
The day’s other news included ADP’S monthly jobs report that showed the US economy added 163,000 private sector jobs last month. The number was almost 40,000 better-than-expected and comes ahead of the Labor Department’s widely-watched report Friday.
The all eyes now on European Central Bank rate announcement and Mario Draghi’s comments at the accompany press conference will dominate Thursday.
TODAY LEVEL (GCZ12)
RESISTENCE #2......................... $ 1631
RESISTENCE #1......................... $ 1621
PIVOT ........................................ $ 1607
SUPPORT #1.............................. $ 1594
SUPPORT #2.............................. $ 1583
MCX (OCT FUTURE)
RESISTENCE #2.................. INR 30300
RESISTENCE #1.................. INR 30180
PIVOT.................................. INR 30050
SUPPORT #1....................... INR 29920
SUPPORT #2....................... INR 29790
Happy Trading
Rahul Kumar
Gold Specialist (Spot & Future)
Call : +91 895-8173-410
Join us for daily update : http://facebook.com/comexgoldfuture
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