Snippet from Wednesday's XAU ...
XAU pulled back on lighter volume on Tuesday as it fell under 54 to a low of
53.59 and closed at 54.57, almost a buck off the low after testing the support
on a lighter volume bullish spring. OK so we have the F'eds tomorrow, and
coming after this lighter volume pullback, we'll be looking for this to bounce
ahead of the mystery
.
Snippet from Wednesday's Gold...
Again another day of no real action, yes there was a slightly lower low and
lower high, but again on very light volume... Gold closed at 1166, just
basically going nowhere right now except sideways, building compression into the
F'ed "decision" tomorrow. Unless the F'ed surprises everyone and announces a
rate hike, we would expect at least a temporary bid under gold, and very strong
likelihood of a bounce at least going into the report.