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Gold prices slightly up in the Asian session

Friday, Sep 11 2015
Gold added $1.70 in the Asian session to trade at 1111.00 remaining well below its monthly trading average. Traders seem unsure of what to make ahead of the Federal Reserve meeting next week. The odds continue to shuffle between an increase or a delay. No one knows for sure. Gold finished higher on Thursday, halting a string of losses that took prices to their lowest level in a month, as investors continued to look for hints on the outcome of the Federal Reserve’s policy meeting next week.
 
U.S. gold, also headed for a third weekly dip, was trading at $1,111. "It is hard to get too enthusiastic about gold currently," said HSBC analyst James Steel. "We are likely to see sideways trading until the FOMC," he said referring to the U.S. Federal Open Market Committee meeting.
 
Aussie which is often influenced by gold prices is currently being traded few points above 0.7060 level. Pair is likely to find support around 0.70 handle and resistance above 0.71 area. Later today, in the US session, PPI and Consumer Sentiment figures are scheduled for a release.
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