Gold inches higher, but struggles to shine

Technical - Levels

	R2	R1	S1	S2
Gold	1148	1130	1109	1097
SILVER	14.96	14.75	14.44	14.23
CRUDE OIL	47.12	45.93	43.82	42.11
COPPER	2.436	2.410	2.372	2.308
NATURAL GAS	2.712	2.693	2.635	2.612
PLATINUM	1035	1002	977	967
PALLADIUM	1014	591	568	558

Overview :

Gold futures traded modestly higher Tuesday as investors looked ahead to the Federal Reserves’s policy meeting next week, which could determine the direction of the dollar and dollar-denominated commodities like gold.

Gold for December delivery was marginally higher, gaining $1, or about 0.1%, at $1,122.10 an ounce, after swinging between small gains and losses in early Tuesday action.

The precious metal has been down nine of that past 11 sessions and hasn’t drawn much of a bid in recent weeks on the expectation that the Fed may raise interest rates for the first time since 2006. Interest-bearing assets like Treasurys have diminished the appeal of gold, which doesn’t bear any interest, while anticipation of a near-term rate increase has dulled expectations for gold.

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