Gold was down on Tuesday morning in Asia, continuing its losses after falling to a near one-month low during the previous session. Investors now await a U.S. Federal Reserve policy decision for further clues on inflation and the central bank’s future monetary policy.
The market is short term negative still and suggests a roll down from flagging congestion that will send selloffs to 1811.0. Sustained selloffs under 1856.0 will encourage declines to 1811.0. Any corrective congestion within yesterday’s range will keep trade aligned for selloffs.