Gold Ranges at Lows

Gold is ranging after a slight retracement from just below the highs of the range at 1735. We are finding support from 1715, roughly in the middle of the value area. We have strong support confirmed by two green triangles on the KRI. The Kovach OBV is solidly bearish. A breakdown could take us to the base of the 1700 handle, or even back to lows at 1683. All eyes appear to be on the FOMC, so don't expect much action before that announcement.