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Gold : Decline or Back to Positive Territory ?

Gold is declining after stretching to the highs of August 2013. On the hourly chart of Gold we can see a falling wedge within which the pair is trading currently. Seems like investors have now switched to equities snapping the gold’s winning streak. This week would be very sensitive for Gold as investors would be waiting for the outcome of the two day Federal Open Market Committee meeting. Tomorrow Janet Yellen is going to announce the next step in winding up the central bank’s bond stimulus program. Although the falling wedge gives a bullish signal, however considering the upbeat US data the pair should decline more. Gold is very volatile and sometimes move unexpectedly so I would like to wait for the FOMC statement tomorrow at 2:00 PM EDT.