Gold Steady

Gold appears to be trading in the range between $1,357 and $1,330. This tight range of less than $30 is the price ratio where Gold has been fluctuating in for the past two weeks. Yesterday's FOMC minutes was not a market mover and Gold continued to be range bound in that area.

Currently, Gold is on the upper side of the frame at $1,352. It's important to notice that since the beginning of August the precious metal has left the upward trading channel and has been out since then.

Bulls need to get back inside in order for the bullish rally to be confirmed. Unless bears take the price to a lower level below $1,330 the bull run is expected.

Chart: XAU/USD H4