Gold is steady in the early Asian trade ahead of the FOMC's two-day meeting that starts today and major U.S. economic data such as retail sales due out today.
Given expectations of a Fed rate cut and continuing geopolitical tensions, gold has settled into a high-level consolidation, Pepperstone's Dilin Wu says in an email.
The FOMC meeting and U.S. retail sales will likely be the key events to monitor, possibly shaping whether the precious metal can resume a directional trend, the research strategist adds. Spot gold is little changed at $3,678.38/oz.
Source: Bloomberg
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