Gold prices have consolidated over the last few weeks around the key psychological level of $1,800 an ounce. Risk sentiment will gear higher around the next FED meeting.

It’s important to note, this is the first time in 4 weeks that Gold has printed a red weekly candle, which puts into contention both plays, as investors wait for the break of this area. To the upside, $1,860 is a key high, and to the downside, a fib retracement at $1,782 an ounce forms support.

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