Gold Steady

Gold has entered into low volatility environment and is trading with very low volumes so far. The precious metal opened at $1,337 and is now $1,334. It is not doing much today but this can be considered normal having in mind that we have no important US data scheduled. Maybe traders and investors can use a bit of peace in this otherwise very volatile market.

On one hand, Gold has reached a support zone at current market price and this might be the reason for the low volatility we witness today. On the other hand, market participants can anticipate the movement of the metal and drive it into either directions. Whatever it may be, Gold had an impressive first half of the year and not so impressive second half so far.

Exciting moments are ahead of us in Gold market until the end of the year and two major events would be the September and December FOMC meetings.

Chart: XAU/USD D1