Watch for a Breakout in Gold Prices After Fed Statement

Gold prices tread water on Tuesday as traders wait for the Federal Reserve to release its latest policy-making statement in the middle of the week. Grafite Capital options trader Mihir Dange tells TheStreet's Joe Deaux that he expects prices the breakout due to the ever-tightening range the yellow metal has traded over the past month. While the Fed isn't expected to announce any major changes -- it likely will taper by another $10 billion and leave interest rates unchanged -- the technical trading in gold suggests a big move could happen before the slow summer months begin. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet