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Monday, January 29, 2007

Futures Gold Update

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Comex gold futures are sluggish as traders await economic data due out later this week. We are seeing a quiet start to the week.
We've got a slew of data out on Wednesday, Thursday and Friday...one key to the data will be the FOMC meeting, adding that all eyes will be on the dollar's movements after the Fed's statement is released following the rate decision.
But for now gold is drifting around on a lack of interest. Doubt that we will see much action ahead of the data.
The FOMC rate decision is expected at 2:15 p.m. EST (1915 GMT) Wednesday.

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