Gold jumps above $1210 as USD tumbles on FOMC staff projections

Gold rose more than $10 after the Federal Reserve released its statement. The yellow metal peaked at $1214, the highest level in a week. At the moment it trades at $1212, near the highs as traders await the beginning of Janet Yellen press conference. 

The greenback weakened in the market, despite the rate hike. The hike was fully discounted. The FOMC projections and one dissent vote in the decision, pushed the US dollar to the downside in the market and sent US bonds to the upside. 

FOMC did not flag any plan to accelerate the pace of monetary tightening - RTRS

XAU/USD Technical levels 

A consolidation around current levels would put the price back above the 100-day moving average ($1208).  To the upside, resistance levels might be seen at $1215 (daily high), $1220 (Jan 23 & 24 high) and $1228 (20-day MA). On the downside, support could now be located at $1208 (Mar 14 high), $1197 (Mar 14 & 15 low) and $1185.