FX.co ★ Taper optimism, gold holds support

It is a clear blue sky for USD, equity markets and dark clouds for gold. After Fed trims the bond purchasing program, gold submitted into bear hands. Gold touched the low of $1,216. In Asia's trading session gold recovery its overnight losses little bit trading at $1,220. Taper signs the Fed holding faith in recovery. The US stocks soars after Fed kept short-term interest rates at 0% longer expected than earlier.

Gold holds its previous lows and trading at 1,220. It is a good sign for bulls. The hourly charts indicated buy mode with a positive divergence.

Intra

Resistance 1,226 1,237

Support 1,215 1,210