Gold Bearish in Short Term Outlook as Fed Meeting Looms

http://newsdoors.blogspot.com/2013/01/gold-bearish-in-short-term-outlook-as.html

Gold Bearish in Short Term Outlook as Fed Meeting Looms

WHOLESALE Gold Bullion prices climbed back above $1660 an ounce Tuesday morning, broadly in line with where they ended last week, as stocks and commodities fell slightly and the Dollar ticked higher against the Euro ahead of tomorrow's interest rate decision from the US Federal Reserve.
"We are seeing a technical rebound following a few days of price decline," one trader in Shanghai told newswire Reuters this morning.

"In the short run, gold is still going to drift without much conviction, though over the longer term it is still facing very heavy pressure on the upside."
Read More>> http://newsdoors.blogspot.com/2013/01/gold-bearish-in-short-term-outlook-as.html