Posted 2/21/2024, 2:52:00 PM
Gold Prices Edge Up Ahead of Fed Minutes; Traders Eye Signals on Rates and DollarMoves
- Gold prices rose ahead of release of FOMC meeting minutes, seen as key event to provide clues on interest rate outlook
- Gold rebounded from recent lows but remains rangebound between $2,000-2,050 an ounce over past month
- Traders watching for dollar movement and any hints in minutes on potential timing of rate cuts to drive next gold move
- Sustained break above $2,033, where 50-day moving average and Feb high meet, could spark more buying
- Failure to hold support around $2,020-2,023 could fuel fresh downswing toward $2,000 level