XAU/USD falls below $1,800 ahead of FOMC on Wednesday

The latest reports by economic analysts indicate that XAU/USD falls below $1,800 ahead of FOMC. In particular, we are reading that: 

XAU/USD falls below $1,800 ahead of the FOMC meeting on Wednesday. Technical analysts suggest:

• Gold prices stay pressured for the 3rd straight day, off the intraday low.

• The weaker USD helped limit deeper losses, at least for now.

•  Various factors caused some intraday selling around gold on Monday (July 26). 

• Traders are reluctant to open new big positions ahead of the key Federal Open Market Committee (FOMC) meeting on Wednesday.

• US Durable Goods Orders and Housing Price Index for June will be significant numbers to watch

• Covid-19 updates over US stimulus, as well as the US-China news, might push the gold to move, according to analysts.

(Source: fxstreet.com)

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