Gold price and the ‘Bullish Taper’: What happens next?

On Thursday, the Gold price recovered from the post-FOMC dump, jumping over $30 from Wednesday’s low, reclaiming the critical moving averages. Spot Gold (XAUUSD) is unchanged at $17.91.65 in early Asian trading Friday as traders digest this week FOMC decision. On Wednesday, the US Central bank announced it would start to scale back its asset purchase programme. As expected, the Fed will trim its treasuries and mortgage-backed securities purchases by $15 billion per month, from $120 billion to $95b. Fed…

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