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Gold Price Forecast – Gold Markets Continue to Grind Higher

Gold markets have rallied a bit during the trading session on Tuesday to clear the 50-Day EMA.

Whether or not we can hang on to this remains to be seen though, as we do have the FOMC meeting on Wednesday which will obviously have a major influence on not only gold, but the US dollar and interest rates in general.

While nobody is anticipating an interest rate hike, the reality is that the real question is going to be whether or not the Federal Reserve will remain tight for longer, or if they will start to show signs of hesitation.