Gold Eyes Fed Comments – Bullion Mart

MARKET UPDATE : 9:50 a.m

Mar 17- Gold prices consolidates and maintains near $ 1730 levels after a high of $ 1737 levels in Asian hours. U.S Economic data showed lower than expected permits issued for new building permits and new house construction also showed lesser than expected numbers. Traders will be keen to hear updates out from FOMC later today. Gold maintained near $ 1734 levels  through out London session and drifted slightly lower as the session progressed. Technical short term chart indicates support near by $ 1725 levels and resistance being yesterdays high of $ 1741.

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