The precious metal held its ground as a brief risk-off sentiment saw equity prices falling. However, the metal was relatively subdued on the day.
The Fed is expected to keep interest rates on hold at its meeting today. Investors will be looking at the meeting for further clues on monetary policy.
XAU/USD Consolidates at Support
XAUUSD is consolidating near the support/resistance area of 1462. The Stochastics oscillator is currently rising from the oversold level indicating a possible move to the upside.
If this occurs, XAUUSD could test the 1483 region once again. To the downside, the lower support at 1445 remains the target.
