Gold continues to hug the uptrend but Fed looms

Gold up $7 ahead of the Fed

Gold got a huge boost from the Brexit vote on the idea that central bankers will be dovish for longer.

So far, the verdicts have been mixed, especially with the BOE opting to punt. But in the next few weeks we could get action from the BOE, RBA, BOJ and RBNZ.

But up first is the Fed, at 2 pm ET today. That's the most critical central bank for gold, or at least gold priced in US dollars. If the Fed hints at hikes today, then the uptrend in gold and the entire post-Brexit rally is at risk.