Gold Price Forecast: XAU/USD eases from two-week high, holds above $1,750 ahead of Powell – by hareshmenghani Gold Commodities Fed XAUUSD SEO
esday. The momentum, however, stalls near the $1,765 area following the release of the US macro data, though the downside seems limited amid a weaker US Dollar, which tends to boost demand for the Dollar-denominated commodity.The US Dollar remains on track to post its worst monthly performance since September 2010 amid hopes that the Federal Reserve will soften its hawkish stance in the wake of looming recession risks.
The preliminary report released by the US Bureau of Economic Analysis showed that the economy expanded by 2.9% annualized pace during the third quarter against 2.6% reported previously. This helps limit any deeper losses for the US Dollar and caps Gold price. Traders also seem reluctant to place aggressive bets ahead of Chairamn of the
Jerome Powell's speech, which will be looked upon for clues about future rate hikes and provide a fresh directional impetus to the non-yielding yellow metal.From a technical perspective, any further pullback now seems to find some support near the $1,748 zone . This is followed by the $1,740-$1,739 zone, which if broken decisively will negate any near-term positiveand make Gold price vulnerable.
On the flip side, momentum beyond the daily top, around the $1,765 area, has the potential to lift Gold price to the $1,770-$1,772 region. Some follow-through strength will be seen as a fresh trigger for bulls and prolong the upward trajectory to the $1,778 region.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Gold Price Forecast: XAU/USD eyes acceptance above $1,760 to unleash additional recoveryGold is staging a recovery rally above the $1,750 level this Tuesday. As FXStreet’s Dhwani Mehta notes, XAU/USD recovery needs acceptance above $1,760
Consulte Mais informação »
Gold Price Forecast: XAU/USD recovers firmly as Chinese marshals restrict unrest, US GDP in focusGold Price Forecast: XAU/USD recovers firmly as Chinese marshals restrict unrest, US GDP in focus – by Sagar_Dua24 Gold XAUUSD Fed Inflation GDP
Consulte Mais informação »
Gold Price Forecast: XAU/USD sits near daily high, around $1,755 amid weaker US DollarGold price regains positive traction on Tuesday and reverses the previous day's retracement slide from more than a one-week high. The XAU/USD maintain
Consulte Mais informação »
Gold Price Forecast: Miles to go before XAU/USD shows a sustained shine – TDSGold posted a disappointing performance this year, moving from a high of just over $2,050 in March to a low of $1,617 in early-November. Economists at
Consulte Mais informação »
Gold Price Forecast: XAU/USD bulls seek validation from $1,760 and Fed Chair PowellGold price (XAU/USD) picks up bids to refresh intraday top near $1,755 heading into Wednesday’s European session. In doing so, the precious metal pric
Consulte Mais informação »
Gold Price Forecast: XAU/USD to yield a triangle breakout on dovish Powell’s speechGold price is looking to build on Tuesday’s recovery gains above $1,750. Federal Reserve Chair Jerome Powell’s speech is set to hog the limelight. XAU
Consulte Mais informação »