Gold after the Fed and Brexit Article 50

The UK triggered the official Brexit process but gold and forex pair made limited movement yesterday. Gold has moved from 1247 to 1255 for many hours to wait for a break-out of the 1248-1257 to start a new trend.

The USD Dollar Index has gone up after the Euro committee made a correction to its momentary policy announcement yesterday and Fed official Eric Rosengren said there would be three more rate hikes this year. Gold has been traded around 1248-1251 zone for the entire today’s Asian and Euro trading sessions.

Gold Trend is in consolidation
Gold Trend is in consolidation

Gold trend is in consolidation to wait for U.S jobless and U.S GDP reports at 8:30 AM, the released number of these two economic reports will make a strong gold price movement to start a new trend in which the 1255-1257 is an important zone to watch up-trend.

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