Gold prices have been relatively stable heading into the FOMC rate decision on Wednesday, up until the overnight session into Tuesday. Mahir Dange, independent metals trader, tells TheStreet’s Jill Malandrino, the gold sell off coincided with the volatility in the crude market. The Russian interest rate hike also caused volatility to explode across the entire commodity comple4x, as well as the equity market. Dange believes the FOMC will not follow Russia in raising rates and the Fed will continue its stance into late 2015-2016. $1,180 is a key level gold has to hold today, Dange says. For year end targets, Dange sees $1,175 in gold for support and $1,225 to the upside.
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