Gold sees little price movement in wake of FOMC minutes gold silver FOMC
- Gold and silver prices are modestly lower in afternoon U.S. trading Wednesday, in the immediate aftermath of fresh data from the U.S. Federal Reserve. April gold was last down $1.90 at $1,840.70 and March silver was down $0.265 at $21.625.
Global stock markets were mixed but mostly lower overnight. U.S. stock indexes are slightly higher in afternoon trading, after hitting three-week lows overnight. The stock index bulls have faded recently, including near-term price uptrends on the daily bar chart being negated to suggest near-term market tops are in place.
Technically, April gold futures bears have the slight overall near-term technical advantage. A fledgling downtrend is in place on the daily chart. Bulls’ next upside price objective is to produce a close above solid resistance at last week’s high of $1,881.60. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at this week’s high of $1,856.40 and then at $1,870.90.
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