Gold has been trading in a limited band of $2157 to $2200 for the past four days.
During a speech at the Economic Club of New York, Fed Governor Waller stated that there is no immediate need to lower policy rates.
Recent data suggests that keeping the rate at its present restrictive level may be necessary to maintain inflation at 2% for a longer period of time.
Us Final GDP Q/Q (12:30pm GMT)
Unemployment Claims
Chicago PMI (1:45pm GMT)
Technical:
Near-term support is at $2170, with a break below targets of $2157, $2145, $2130, 2114, and $2100. The yellow metal faces slight resistance at $2191 and a breach above will lead to the next levels of $2200/$2225/$2250.
Signal
Buy $2180 with a stop loss of about $2160 and a target price of $2220.
Sell at $2220 with a stop loss of about $2230 and a target price of $21700.