Gold bounces on Fed decision after 1 percent drop

Reuters reports on Thursday, Gold firmed after the U.S. Federal Reserve pledged to buy $600 billion in government debt over eight months.

The market news is quoted as saying:

Spot gold is expected to rise to $1,420 per ounce over the next four weeks as per a wave and a bullish triangle pattern, according to Wang Tao, a Reuters market analyst for commodities and energy technicals.

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